Bangladesh highway development project for trade corridor

Funding worth US$1.2 billion will help pay for the stage two portion of the project to upgrade the Northwest Trade Corridor project in Bangladesh. The highway will improve transport connections to and from Dhaka, with stage two being for the 190km stretch between Elenga and Rangpur. This funding is being provided by the Philippines-based 943 Asian Development Bank (ADB), although further financing from the Bangladesh Government will pay for the remaining $472.6 million required for this highway section. The ADB’s funding package is being delivered in multiple tranches including a concessional loan, a regular loan and a technical assistance grant.