Bangladesh, French Development Agency sign USD 303m credit agreements

Bangladesh and the Agence Française de Développement (AFD), or the French Development Agency, have signed credit facility agreements (CFA) totaling EUR 277 million (roughly USD 303 million) for three critical development projects.

Sharifa Khan, secretary to the Economic Relations Division, representing Bangladesh, and Benoit CHASSATTE, AFD’s national director for Bangladesh, signed the CFAs on June 22.

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AFD will provide EUR 62 million to the BRT project, EUR 175 million to the Chattogram Metropolitan Sewerage Project, and EUR 40 million to the BEST Project under the CFAs.

The Greater Dhaka Sustainable Urban Transport Project (BRT Company Component) intends to build a sustainable urban transportation system in Gazipur City Corporation (GCC). This project will implement a 20-kilometer Bus Rapid Transit (BRT) route as a pilot project to provide a comprehensive solution for integrated urban mobility.

The Chattogram Metropolitan Sewerage Project for North Kattoli, the second project, fulfills the long-awaited demands of Port City residents. It entails the development of a sewerage system and wastewater treatment facilities for the North Kattoli catchment area, which is located in the city’s northwest corner.

The third project, Bangladesh Environmental Sustainability and Transformation (BEST), is a collaboration between AFD and the World Bank. It strives to improve Bangladesh’s environmental rules and enforcement. By boosting the country’s technical and administrative capacity, the project aims to reduce pollution and improve environmental quality.

Since 2012, AFD, a bilateral development agency charged with providing official development aid on behalf of the French government, has been engaged in Bangladesh.

The assistance provided by AFD covers a wide range of development projects, including urban development and infrastructure efforts like as water and sanitation, public transportation, and urban services. They also concentrate on power and green energy projects, such as energy efficiency and renewable energy, as well as corporate and social responsibility initiatives aimed at improving safety standards, environmental and social performance, and so on.

To far, AFD has invested EUR 2,101 million in technical assistance projects and a budget support loan of EUR 300 million to Bangladesh, proving its long-term commitment to the country’s growth.

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