A loan agreement was signed for the ‘Chunkudi Setu Project’ in Khulna. The total cost of the project will be 86.91 million US dollars. Of this, 42.20 million will be given by the Kuwait Fund for Arab Economic Development (KFAED) and 30 million by the Abu Dhabi Fund for Development.
Bangladesh delegation is visiting Vienna, Austria to attend OPEC Fund Development Forum 2024 under the leadership of Finance Minister Abul Hasan Mahmud Ali. The Ministry of Finance informed that the loan agreement was signed during this visit.
Minister of State for Finance Wasika Ayesha Khan, Bangladesh Ambassador to Austria Asad Alam Siam and Additional Secretary Economic Relations Department Mirana Mahrukh are members of the delegation.
According to the Ministry of Finance, on June 24, the delegation led by the Minister of Finance attended the 25th anniversary of the OPEC Fund Private Sector Operation.
Finance Minister met with Walid Al Bahar, Acting Director General of Kuwait Fund for Arab Economic Development. He expressed gratitude to the Kuwait Fund for Arab Economic Development for its continued support and assistance since 1974. He also asked for more support in the future.
Meanwhile, the Acting Director General mentioned the development of Bangladesh and assured that the funds will be continued in a more productive process to support the development of Bangladesh. Apart from the public sector, he also expressed his interest in helping the private sector of Bangladesh.
After the meeting, a loan agreement was also signed between the Government of Bangladesh and the Kuwait Fund for Arab Economic Development Fund for the ‘Chunkuri Bridge Project’ on the Chunkuri River in Khulna District. The total cost of the project will be 86.91 million US dollars, of which 42.20 million will be provided by the Kuwait Fund for Arab Economic Development and 30 million by the Abu Dhabi Fund for Development.
The project aims to enhance the economic and social development of the southwestern region of Bangladesh and facilitate the movement of passenger and freight vehicles through direct road connectivity of the region with the capital Dhaka.
Finance Minister Abul Hasan Mahmud Ali sideline meeting OPEC Fund President Dr. Abdul Hamid also met with Al Khalifa.
The Finance Minister thanked the OPEC Fund for its contribution to the socio-economic development of Bangladesh by providing 693.61 million US dollars in favor of 32 projects. He thanked for helping Bangladesh during the Covid transition period by providing budgetary support.
The Finance Minister appreciated the fund’s initiative in providing support to the private sector in Bangladesh. He requested the OPEC Fund to make a significant contribution by providing more cooperation to Bangladesh as it moves towards building a Smart Bangladesh.
The President of OPEC Fund expressed surprise at the recent development of Bangladesh and said that OPEC Fund must increase development assistance as Bangladesh’s trusted development partner.
He accepted the idea of a framework agreement given by the finance minister and noted that OPEC would sign a framework agreement for 3-5 years for greater cooperation.
MAS/ZH/JIM
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