The Islamic Development Bank (IsDB) Group is providing getting $241.30 million loans to Bangladesh to help fight negative climate impacts through constructing five climate resilient bridges in Mymensingh Division.
In this regard, a financing loan agreement for the ‘Construction of Five Climate Resilient Bridges in Mymensingh Division, Bangladesh’ project was signed between them during IsDB Group’s annual meeting held in Algiers, Algeria on Wednesday, says a release.
MD Shahriar Kader Siddiky, secretary, Economic Relations Division, and Dr. Rami Ahmad, Vice President of IsDB, signed the loan agreement on behalf of GoB and IsDB, respectively.
During the signing, Alternate Governor of Bangladesh to IsDB Mr Mohammad Hasan Arif and Charge de Affairs of Bangladesh Embassy in Algiers Rashed Ahmed and IsDB Chairman Dr. Muhammad Sulaiman Al Jasser, were present.
The project will be implemented by the Roads and Highways Department under the Road Transport and Highways Division.
The project will enable the socioeconomic development of marginalized communities by improving communication on the Sunamganj-Jamalpur border road and Shyamganj-Durgapur border road in remote areas of Mymensingh Division through the construction of fivce climate-resilient bridges.
The implementation of the project will enable people living in the relevant areas to cope with climate change impacts, improve transportation facilities, road safety, expand education, create economic opportunities, and reduce poverty and social inequality.
The4 lsDB is one of the trusted multilateral development partners of Bangladesh and has been providing continuous support for the socioeconomic development of Bangladesh since its inception, in the form of grants, project loans, trade financing, private sector financing, export credit guarantees etc.