DHAKA, Dec. 23 (Xinhua) -- The Asian Development Bank (ADB) and the Bangladeshi government Monday signed loan agreements totalling 688 million U.S. dollars to upgrade a 35-kilometer railway line in the country's southeastern region.
The Manila-based lender said the project aims to establish seamless connectivity along Bangladesh's Dhaka-Chattogram-Cox's Bazar corridor, significantly boosting regional transport efficiency and economic growth.
Bangladesh's Secretary of the Economic Relations Division (ERD) Md Shahriar Kader Siddiky, and ADB Country Director for Bangladesh Hoe Yun Jeong, signed the agreements on behalf of their respective sides at a ceremony in Dhaka.
"The project will enhance the resilience, reliability, and efficiency of rail services between Dhaka and Cox's Bazar, facilitating a crucial shift from road to rail transport," said Jeong.
As a component of the Trans-Asia Railway network, ADB said the Dhaka-Chattogram-Cox's Bazar corridor currently accommodates 32 percent of passenger traffic and 55 percent of freight, underscoring the importance of enhanced rail infrastructure for economic integration, optimizing logistics, and driving development in Bangladesh's southeastern region and beyond.
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