Dhaka, Bangladesh (BBN) - The World Bank will provide US$300 million for the construction of modern silos providing the capacity to store a total 1.0 million tones of food grains for a longer period of time.
The silos will be constructed in three years, a Directorate General (DG) of Food press statement said.
“It is expected that a large part of the proceeds for payment of the construction and supervision would be funded as grant from the World Bank,” it added.
Bangladesh has already obtained an International Development Association credit of US $1 million for the payment of consultancy services for the preparation of the “Bangladesh Modern Food Storage Facilities Project”.
Meanwhile, the DG of Food signed a contract with a joint venture consultancy firm comprising Key International, USA and Sthapati Sangthad Limited, Bangladesh in this regard on February 7.
Once completed, the country's food storage capacity would reach around 2.6 million tones by 2015.
BBN/SSR/AD-06Mar12-8:40 am (BST)
