Dhaka, Bangladesh (BBN)– Kuwait Fund for Arab Economic Development will provide US$ 48 million to finance the Lebukhali bridge project over Paira River in Bangladesh.
A loan agreement to this effect was signed between Kuwait Fund and the Bangladesh government in the capital Dhaka on Tuesday.
Kazi Shafiqul Azam, additional secretary of Economic Relations Division of Finance Ministry and Hesham Al-Waqyan, Deputy Director-General of Kuwait Fund for Economic Development signed the agreement on behalf of their respective sides.
Kuwait Ambassador to Bangladesh Ali Ahmad Ebraheem Al-Dafiri was present at the signing ceremony, a press statement said.
The project aims to enhance the economic and social development of southern region of Bangladesh. The Fund’s loan will cover about 72 percent of the total cost of the project, it added.
BBN/SSR/AD-13Mar12-9:30 pm (BST)
