The Executive Committee of the National Economic Council (Ecnec) on Sunday approved 16 projects involving Tk24,247 crore, including one to develop infrastructure for Bay-terminal to enhance capacity of Chattogram port.
Chief Adviser Professor Muhammad Yunus chaired the Ecnec meeting held at the capital’s NEC conference room.
The “Bay Terminal Marine Infrastructure Development Project (BTMIDP)” finally got approved after a long discussion. It will be implemented at an estimated cost of Tk13,525.57 crore, including Tk9,333 crore loans from the World Bank, Planning Adviser Prof Wahiduddin Mahmud said at a press briefing after the meeting.
“Chattogram Port is not actually a seaport, it’s a river port. For our economic development, we need a true seaport. That’s why a mega project is being undertaken to develop the Bay Terminal’s infrastructure,” he told reporters.
“One part of it has been approved today. Another project will be taken up under a public-private partnership (PPP). In total, there will be four terminals here, making it a mega project. Instructions have been given to ensure its swift completion,” he added.
The adviser further stated that considering the growing business operations of the next 15 to 20 years and the geopolitical importance, the necessary facilities at the Chattogram Port have to be increased.
The project will help Bangladesh invest in infrastructure for developing the Bay Terminal deep seaport, which will significantly improve Bangladesh’s global trade competitiveness and reduce import and export costs by increasing port operational efficiency and mobilising private investment.
Currently, the Chattogram Port – which is the maritime gateway for over 90% of Bangladesh’s international trade volume and 98% of its container traffic – can only receive small feeder vessels during limited hours of the day.
The Bay Terminal, located in the Anandangar, Sandwip channel, west of the Chattogram port and close to existing road and rail links to Dhaka, is expected to handle 36 percent of Bangladesh’s container volumes.
Over one million people, half of whom women, are expected to directly benefit from improved access to sustainable transport services, including shipping companies, business communities, importers, exporters, and freight forwarders.
At the press conference, Prof Wahiduddin said the government is often compelled to appoint consultants when implementing projects financed by foreign loans.
He explained that accepting major foreign loans typically requires the inclusion of consultants, even if on a small scale. “Without agreeing to this, foreign lenders are usually unwilling to provide the funds,” he said.
Responding to a question on social safety net programs, He noted political influence in selecting beneficiaries has undermined the integrity of the initiative. “Due to politically motivated inclusion, nearly 50 percent of recipients are not genuinely eligible for allowances,” he said, adding that there was clear interference in the selection process.
The day’s ECNEC meeting approved a total of 16 projects involving an estimated cost of Taka 24,247.24 crore. Of the total project cost, Taka 3001.34 crore will come from the government of Bangladesh, Taka 16,719.73 crore as project loan while Taka 4,526.17 crore from the concerned organization’s own fund.
Of the approved 16 projects, 13 are new while three are revised projects. Of the Tk24,247.24 crore total project costs, Tk3001.34 crore will come from the government of Bangladesh, Tk16,719.73 crore as project loan while Tk4,526.17 crore from the implementing agencies’ own fund.
The other projects approved in the meeting are: Multi-sector to deal with the Rohingya crisis on an emergency basis (2nd revised) with an additional cost of Taka 394.19 crore, Bangladesh Sustainable Recovery, Emergency Preparedness and Response Project (B-STRONG) with Taka 1,909 crore, Chattogram Metropolitan Sewerage Project (1st Phase) (1st revised) with an additional cost of Taka .01 crore, Livable and Inclusive Cities for All (LICA) Project with Taka 74.60 crore, Chattogram Water Supply Development Project with Taka 3,921.42 crore.
The other projects approved in the meeting are: Project for the Improvement of Equipment for Air Pollution Monitoring of Tk103.35cr, Bangladesh Sustainable Recovery, Emergency Preparedness and Response Project (B-STRONG)-Agricultural System Restoration Component of Tk260.22cr, Bangladesh Sustainable Recovery, Emergency Preparedness and Response Project (B-STRONG) (BWDB) with around Tk599.72cr, Technical Support to Sustainable and Resilient Investment towards Agriculture Sector Transformation Program of Bangladesh of Tk53.14 crore.
Also, Green Railway Transport Preparatory Technical Assistance of Tk93.51cr, Drilling of Two Deep Exploratory Wells at Titas and Bakhrabad Fields of Tk798cr, Strengthening of Excavation Capacity of Geological Survey of Bangladesh of Tk112.78cr, Strengthening Social Protection for Improved Resilience, Inclusion and Targeting (SSPIRIT) of Tk904.17cr, Secondary Education Sector Investment Program (CESIP) (4th Revised) with zero additional cost and Project Preparation Advance (PPA) under Financial Sector Support Project-II (FSSP-II) of Tk87.10cr.
In this ECNEC meeting, the project for drilling of two deep exploratory wells at Titas and Bakhrabad Fields were approved for the 1st time during the interim government’s tenure through PPS software.
Besides, the ECNEC meeting approved the time extension of two projects. The meeting was also apprised about five projects which were approved earlier by the Planning Adviser.