AIIB, Bangladesh ink 260 mln USD loan pact for steel bridge project

Bangladesh and the Asian Infrastructure Investment Bank (AIIB) have signed a 260-million-U.S. dollar loan to Bangladesh for the construction of the country's first arch steel bridge recently.

Economic Relations Division Secretary Fatima Yasmin from Dhaka, and AIIB Vice President (Investment Operations Region-1) DJ Pandian from Beijing signed the agreement on behalf of their respective sides at a virtual ceremony, said a statement received here Wednesday.

Under the project, according to the Finance Ministry statement, a 320-metre steel arch bridge, 780-metre approach bridge, 551-metre road overpass, 240-metre railway overpass, 6.20-km highway with four lanes, including slow-moving vehicular traffic lanes and one toll plaza are scheduled to be completed by June 2025.

The Kewatkhali Bridge upon completion will ease congestion in the northern city of Mymensingh by diverting traffic from the busy city center, the Beijing-based lender had earlier said in a statement.

Moreover, it said the new bridge will be part of the Dhaka-Mymensingh-India border corridor, which is strategically important for local and regional connectivity.

Once completed, according to AIIB, over 11 million people in Bangladesh's northern region will benefit from increased mobility and integration of local and regional markets.

The bridge will also shorten the travel time for people and vehicles, and contribute to the reduction of carbon emissions, it said.