Metropolis Desk-
To increase connectivity and reduce traffic congestion, the Asian Development Bank (ADB) has raised $261 million for a four-lane, 13.5-kilometer expressway that will connect Dhaka to other important cities.
The Asian Infrastructure Investment Bank, Bank of China, DBS Bank Limited, and Infrastructure Development Company Limited have provided a $193 million senior loan to finance the project.
The sponsors contribute the remaining $68 million as equity. To plan, promote, and draw in private sector partners to design, construct, finance, run, and maintain the expressway, ADB collaborated with Bangladeshi government agencies.
Delivered under an availability payment model, the project’s revenue is partially dependent on changes in the US dollar and taka exchange rates.
