Metropolis Report –
The first phase of a World Bank-backed program to accelerate transport and trade connectivity in eastern South Asia kicked off Wednesday at a hotel in the capital.
The project will upgrade the 43-kilometer Sylhet-Charkai-Sheolah two-lane highway to a four-lane highway, support digital systems and infrastructure at three land ports, and modernize Customs at Chattogram.
Shipping Minister Khalid Mahmoud Chaudhry said in a speech at the event that “regional trade will be enhanced once the project is implemented.”
“About 50% of total trade with India is conducted through these three land ports. Automation will strengthen not only trade activities but also relations with neighboring countries,” he said, adding that the World Bank to the program.
The World Bank has provided US$753.45 million for the implementation of this project. Officials said the project, when fully implemented in 2028, would help cut travel times to India by 30 percent and reduce fatalities by 40 percent.
According to World Bank officials, physical customs inspections in the red channel will drop from the current 25 to 10 percent, and customs clearance through the green channel will drop from the current 0 to 60 percent.
World Bank approves a US$1.28 billion loan for Southeast Asia’s rapid transit and trade connectivity, providing US$753.45 million to Bangladesh, US$275 million to Nepal, and US$100 million to Bhutan. The World Bank approved the project last year.
