Dhaka, Bangladesh (BBN)- The government will use US$ 200 million grant in the proposed Padma Bridge project from India’s promised one billion credit deal signed with Bangladesh, Finance Minister AMA Muhith said in Dhaka on Sunday.
“We’ll receive the first installment of the grant - US$ 50 million soon,” he told reporters at his ministry after a meeting with Indian Foreign secretary Ranjan Mathai.
On August 7 in 2010, India and Bangladesh signed a US$1.0 billion credit line agreement in Dhaka, which will be used for infrastructure development in Bangladesh.
About Padma Bridge financing, Muhith said the fund for the bridge project could possibly be managed from three countries - China, Malaysia and India.
He said the government has already received formal proposals from two countries -- China and Malaysia -- and after scrutinising the proposals, it will take the final decision on the Padma Bridge within this month or the next. “We’ll take the decision in this regard as quick as possible.”
BBN/SSR/AD-10Feb13-9:07 pm (BST)
