DHAKA: The Asian Development Bank (ADP) has approved $360 million (Approx Tk 2,952 crore) to Bangladesh to boost the developmental work in country’s railway sector. 

The disclosure was made in a statement signed by ADB senior transport specialist Tsuneyuki Sakai on Wednesday (February 21).

According to the statement, Bangladesh railway authority will spend the money to buy modern coach, wagon and locomotive (engine). The loan is being given to encourage the use of railway instead of highway. 

A total of 40 new broad-gauge locomotives (engine), 125 luggage vans and 1000 wagon for freight train will added to Bangladesh railway squad. Moreover, the loan will also cover the expenses for training drivers with advanced tech-based machineries.

Bangladesh government will fund $9.33 crore to the railway project worth $45.33 crore. The rest of the amount will come from ADB.

The project will complete in June 2022.

Even though Railway had a monopolistic dominance in public transportation in the past, the business has plunged over the years due to old trains and lack of infrastructural investment in the sector. 

After launching the Railway Improvement project in 2006, ADB has given Tk281 crore loans to Bangladesh in four terms. 

BDST: 2140 HRS, FEB 21, 2018
AP