DHAKA, Jan. 13 (Xinhua) -- The Asian Development Bank (ADB) and the Bangladeshi government Sunday signed an agreement for 200 million U.S. dollars in loans to improve the rural road network in Bangladesh.
Monowar Ahmed, secretary of Bangladeshi Economic Relations Division (ERD), and Manmohan Parkash, country director of the ADB, signed the agreement at a ceremony in Dhaka.
"The assistance supports the government's priority of delivering urban services in rural areas by increasing connectivity, providing greater access to social services and markets, and promoting the agriculture sector, benefiting over 51.5 million people," said Parkash.
The assistance will support the government's Rural Connectivity Improvement Project (RCIP) to upgrade about 1,700 km of rural roads on all-weather standards in 34 districts located in five divisions.
The total cost of the project, which is due for completion in November 2023, is 285.31 million U.S. dollars.
ADB will provide a concessional loan of 100 million U.S. dollars and a regular loan of 100 million U.S. dollars. The Bangladeshi government will provide the remaining 85.31 million U.S. dollars.
