$53m Saudi loan for city flyover
Bangladesh Sangbad Sangstha . Dhaka
Saudi Arabia would provide $53.34 million for the construction of 8.25 kilometre Moghbazar-Mouchak flyover in the capital city.
A draft loan agreement in this regard has been signed in Dhaka Monday between the government of Bangladesh and Saudi Fund for Development.
The government has decided to construct the flyover at a cost of $115 million to ease the traffic jam in Moghbazar-Mouchak area which would also help improve traffic movement in Dhaka city.
The four-lane flyover will have three separate components to facilitate the north-south traffic movement by increasing the traffic capacity at Satrasta, FDC, Moghbazar, Mouchak, Shantinagar, Malibagh road intersections and also at Moghbazar and Malibagh rail intersections. The total length of the flyover will be about 8.25 km.
According to Economic Relation Division source, the Saudi Fund for Development and the OPEC Fund have assured the government of providing $58 (should be $53) million and $28 million respectively for building the flyover by 2013.
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Bangladesh Sangbad Sangstha . Dhaka
Saudi Arabia would provide $53.34 million for the construction of 8.25 kilometre Moghbazar-Mouchak flyover in the capital city.
A draft loan agreement in this regard has been signed in Dhaka Monday between the government of Bangladesh and Saudi Fund for Development.
The government has decided to construct the flyover at a cost of $115 million to ease the traffic jam in Moghbazar-Mouchak area which would also help improve traffic movement in Dhaka city.
The four-lane flyover will have three separate components to facilitate the north-south traffic movement by increasing the traffic capacity at Satrasta, FDC, Moghbazar, Mouchak, Shantinagar, Malibagh road intersections and also at Moghbazar and Malibagh rail intersections. The total length of the flyover will be about 8.25 km.
According to Economic Relation Division source, the Saudi Fund for Development and the OPEC Fund have assured the government of providing $58 (should be $53) million and $28 million respectively for building the flyover by 2013.
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