Metropolis Desk-
In the amount of Tk 17,653 crore, Bangladesh has paid the first payment toward the construction of a 24-kilometer elevated expressway connecting Dhaka and Ashulia. The project is being financed primarily by foreign loans.
China is providing 85 percent of the cost as a loan at 2 percent interest, payable in 20 years, and the remaining 15 percent is being borne by the Bangladesh government.
The Bangladesh Bank has sold foreign currencies and allowed the depreciation of the taka to address a demand-supply gap in the foreign exchange market.
The project will connect Hazrat Shahjalal International Airport with Abdullahpur, Ashulia, Baipail, and Dhaka Export Processing Zone on the Nabinagar-Chandra highway.
The expressway project is expected to benefit over four crore people from 30 districts, with a 0.217 percent boost to the country’s GDP.
It is the first bill payment in the local currency for a mostly foreign loan-funded project, which will help reduce pressure on the forex reserve and help money circulation.
This arrangement will bring a positive impact on the economy in the long run.
