Economic Reporter :
A loan agreement was signed on Tuesday under which the Kuwait Fund for Arab Economic Development (KFAED) will provide US$ 51 million loan to Bangladesh for urban infrastructure development in 53 municipalities across the country.
The loan agreement for the “Urban Infrastructure Improvement Project” was signed this afternoon at the Economic Relations Division (ERD) in the city’s Sher-e-Bangla Nagar area.
ERD Secretary Kazi Shofiqul Azam and Deputy Director General of KFAED Hamad Al-Omar signed the agreement on behalf of their respective sides.
The Local Government Engineering Department (LGED) under the Local Government Division (LGD) will implement the project in a bid to ensure integrated physical infrastructure development and socio-economic development of 53 municipalities in eight divisions.
Under the project, development works of physical infrastructures like roads, drainage system, bridges, culverts and other civic facilities of these municipalities will be carried out.
