ADB provides $400 million to construct Chattogram-Cox's Bazar railway
The Asian Development Bank (ADB) has signed a loan agreement worth $400 million with the government to build a dual-gauge railway connecting Chattogram and Cox's Bazar to promote trade, investment and tourism in the country.
Sharifa Khan, secretary, Economic Relations Division, and Jiangbo Ning, ADB deputy country director for Bangladesh, signed the agreement on behalf of Bangladesh and the ADB, respectively.
The assistance forms the third part of $1.5 billion ADB loans for the SASEC Chattogram-Cox's Bazar Railway project.
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The loan will help complete the construction of the 102 kilometres of the new railway line between Chattogram and Cox's Bazar.
Jiangbo Ning said, "The ADB is assisting the government shift from road to rail, which is a climate-friendly, safe, affordable, and efficient mode of transport.
"The project is a priority investment and will open up the unserved areas of Cox's Bazar region by promoting investment, trade and tourism.
"It also integrates features that are friendly to the elderly, women, children, and people with disabilities," Ning added.
The new rail link, which is expected to open in 2023, aims to transport 2.9 million passengers annually between Chattogram and Cox's Bazar by 2024.
The construction of this railway section is one of several ADB railway projects to help Bangladesh meet its targets under its eighth five-year plan and railway master plan.
Chattogram-Cox's Bazar Railway is part of the Trans-Asia Railway network, an initiative led by the United Nations, aiming to provide rail links between Asia and Europe to better connect people and markets.
