Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Dubai’s Nakheel and yacht giant Edmiston unite for Monaco spectacle

    September 28, 2023

    Research indicates a gym-free solution to weight loss and endurance is nearing

    September 27, 2023

    Antarctica confronts an extreme year with record-low sea ice

    September 27, 2023
    Facebook X (Twitter) Instagram
    ME News ServiceME News Service
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    ME News ServiceME News Service
    Home » OFID signs deal to co-finance road network in Bangladesh
    Business

    OFID signs deal to co-finance road network in Bangladesh

    July 16, 2021
    Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email
    The OPEC Fund for International Development (OFID) has signed a US$75 million loan agreement with Bangladesh to improve connectivity and accessibility between the rural southwest regions and the capital Dhaka. The OPEC Fund loan will co-finance the construction of the Nalua-Baherchar Bridge (1.3km) over the Pandab-Paira River and build access roads. 
    OFID signs deal to co-finance road network in Bangladesh

    This project will improve connectivity between Dhaka and the southwest districts of Barisal and Patukhali, where agriculture and fishing are key economic activities. As travelers currently cross the river by ferry, the project will reduce travel time and costs while also allowing agricultural produce to reach marketplaces faster. The government of Bangladesh is also co-financing the project.

    OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said, “We are pleased to support Bangladesh in its goal to advance its transport sector. A stronger transportation infrastructure lowers costs and travel times, increases competitiveness, and helps to expand intraregional trade. This project will ultimately improve connectivity for nearly 1.6 million people. The OPEC Fund looks forward to further expand its strong partnership with Bangladesh.”
    OFID was established in January 1976 by the then 13 member countries of OPEC; including the United Arab Emirates. It is the development finance institution established as a channel of aid to developing countries.
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email

    Related Posts

    IRENA 2023 heralds the next era of renewable energy solutions

    September 21, 2023

    Despite Federal Reserve’s pause, financial waters remain choppy for consumers

    September 21, 2023

    Child poverty doubles as US grapples with post-COVID economy

    September 14, 2023

    Arab Monetary Fund highlights $32 billion credit card fraud menace

    September 14, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 10, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023
    Latest News

    Dubai’s Nakheel and yacht giant Edmiston unite for Monaco spectacle

    September 28, 2023

    Research indicates a gym-free solution to weight loss and endurance is nearing

    September 27, 2023

    Antarctica confronts an extreme year with record-low sea ice

    September 27, 2023

    Mexico’s Jalisco struck by rare rainfalls, eight dead, numerous homes damaged

    September 27, 2023

    World Tourism Day 2023 calls for sustainable growth in tourism

    September 26, 2023

    UAE and India discuss strategic ties at UNGA78 in New York

    September 26, 2023
    © 2022 ME News Service | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.