$500m World Bank loan will finance Bangladesh road project
The World Bank has approved $500 million to help Bangladesh improve road connectivity along the Jashore-Jhenaidah corridor covering four western districts.
The Western Economic Corridor and Regional Enhancement Phase I project is the first of a multi-phased $1.4 billion World Bank program to upgrade the existing 110km two-lane highway, Bhomra-Satkhira-Navaron and Jahore-Jhenaidah, to a safer and climate-resilient four-lane highway in western Bangladesh.
The first phase of the program will upgrade 48km of the N7 highway between Jashore and Jhenaidah and improve about 600km connecting rural roads and 32 rural markets/growth centers to stimulate the local economy. To improve road safety, the highway will have additional lanes for slow-moving vehicles and a median safety barrier to separate oncoming traffic.
The credit from the World Bank’s International Development Association has a 34-year term, including a four-year grace period.
