Bangladesh, French Development Agency sign $303m credit agreements for 3 crucial dev projects

Bangladesh and the Agence Française de Développement (AFD) have joined forces to advance crucial development projects through credit facility agreements (CFA), amounting to EUR 277 million (approximately USD 303 million).

The CFAs were officially signed on June 22 by Sharifa Khan, the representative of Bangladesh’s Economic Relations Division, and Benoit CHASSATTE, AFD’s country director for Bangladesh.

Under these CFAs, AFD will contribute EUR 62 million to the BRT project, EUR 175 million to the Chattogram Metropolitan Sewerage Project, and EUR 40 million to the BEST Project.

The first initiative, the Greater Dhaka Sustainable Urban Transport Project (BRT Company Component), aims to establish a sustainable urban transport system within Gazipur City Corporation (GCC). This pioneering project entails the introduction of a 20 km Bus Rapid Transit (BRT) corridor, serving as a pilot program to provide an integrated solution for urban mobility challenges.

Addressing the long-awaited needs of residents in the Port City, the second project, known as the Chattogram Metropolitan Sewerage Project for North Kattoli, involves the construction of a comprehensive sewerage system and wastewater treatment infrastructure in the northwest part of Chattogram city, specifically for the North Kattoli catchment area.

The third endeavor, the Bangladesh Environmental Sustainability and Transformation (BEST) project, represents a collaborative effort between AFD and the World Bank. Its primary objective is to enhance environmental regulations and enforcement mechanisms in Bangladesh. The project’s focus lies in curbing pollution and improving environmental quality by bolstering the country’s technical and administrative capacity.

AFD, a bilateral development agency mandated to implement official development assistance on behalf of the French government, has been actively engaged in Bangladesh since 2012. The agency’s support spans a wide spectrum of development projects, encompassing initiatives related to urban development, infrastructure, water and sanitation, public transport, urban services, power, and green energy. Additionally, AFD emphasizes corporate and social responsibility initiatives aimed at enhancing safety standards and environmental and social performance.

To date, AFD has committed EUR 2,101 million in technical assistance projects and has provided Bangladesh with a budget support loan amounting to EUR 300 million, underscoring the agency’s steadfast commitment to the country’s overall development.

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