ADB gives over $1b for 5 development projects
Md Shahriar Kader Siddiky, secretary at the Economic Relations Division (ERD), and Edimon Ginting, ADB country director for Bangladesh, signed the agreements on behalf of their respective sides at a ceremony held at the ERD in Dhaka.
Bangladesh on Tuesday (28 November) secured $1.026 billion in financing from the Asian Development Bank (ADB) to support five sustainable development projects in the energy, health, sanitation, technology, and connectivity sectors.
Md Shahriar Kader Siddiky, secretary at the Economic Relations Division (ERD), and Edimon Ginting, ADB country director for Bangladesh, signed the agreements on behalf of their respective sides at a ceremony held at the ERD in Dhaka.
Promoting energy efficiency
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The multilateral lender will provide $200 million to assist Bangladesh in enhancing energy efficiency through smart metering as well as supporting its transition to clean energy solutions.
The Smart Metering Energy Efficiency Improvement Project will support the government's efforts to reduce losses by installing 650,000 smart prepaid gas meters for residential customers, primarily in South Dhaka and Narayanganj.
"This project will help save gas, prevent gas wastage, build customers' awareness of the safe and efficient use of gas, and improve the financial performance of the gas distribution company by improving revenue streams and reducing billing, collection, and monitoring costs," said Edimon Ginting.
Developing vaccine production
Bangladesh will receive $336.5 million to establish domestic vaccine, therapeutics, and diagnostics manufacturing capacity and strengthen the national regulator to ensure vaccine supply security in the country.
The Vaccines, Therapeutics, and Diagnostics Manufacturing and Regulatory Strengthening Project will establish a vaccine, therapeutic, and diagnostics manufacturing facility and warehousing unit in Essential Drugs Company's existing location at Gopalganj, with a capacity to manufacture 58 million vials of vaccines per year.
Delivering clean water in CHT
The Manila-based lender will give a $90 million loan to develop infrastructure and systems that will provide clean drinking water and sanitation services in Bandarban, Lama, and Rangamati towns in the Chattogram Hill Tracts (CHT) region of Bangladesh.
The Chattogram Hill Tracts Inclusive and Resilient Urban Water Supply and Sanitation Project will develop water treatment plants with a total capacity of 44 million litres per day in Bandarban, Lama, and Rangamati pourashavas (towns), as well as 24 kilometres of transmission line and 340 kilometres of new water distribution network to connect to households.
Strengthening technology and engineering programmes
The ADB will provide a $100 million loan to improve computer science, software engineering, and information technology programmes in three public universities: Bangladesh University of Engineering and Technology, the University of Dhaka, and Jashore University of Science and Technology.
"This project will help accelerate fourth industrial revolution technology adoption, realise the vision of Digital Bangladesh, and enable the country to reap the demographic dividend by creating digitally qualified young human resources and entrepreneurs," said the country director.
Upgrading the Dhaka-Northwest International Road Corridor
The multilateral lender is to give €277.88 million ($300 million) to help upgrade the Dhaka-Northwest international trade corridor in Bangladesh.
The assistance forms the third tranche of $1.2 billion in multitranche ADB loans for the Second South Asia Subregional Economic Cooperation Dhaka-Northwest Corridor Road Project
