Connect with us

Economy

Bangladesh, AFD Ink $303m Credit Agreements for 3 Crucial Dev Projects

Published

on

bangladesh afd

Bangladesh and the French Development Agency (AFD) have recently finalized credit facility agreements (CFAs) totaling EUR 277 million (approximately $303 million) for three pivotal development projects.

The CFAs were signed on June 22, with Sharifa Khan representing Bangladesh’s Economic Relations Division and Benoit CHASSATTE serving as AFD country director for Bangladesh. Under these agreements, AFD will contribute EUR 62 million to the Greater Dhaka Sustainable Urban Transport Project (BRT Company Component), EUR 175 million to the Chattogram Metropolitan Sewerage Project for North Kattoli, and EUR 40 million to the Bangladesh Environmental Sustainability and Transformation (BEST) project.

The first project, the Greater Dhaka Sustainable Urban Transport Project, aims to establish a sustainable urban transport system within Gazipur City Corporation. A key aspect of this initiative is the introduction of a 20 km Bus Rapid Transit (BRT) corridor, which serves as a pilot project to address integrated urban mobility solutions. The second project, the Chattogram Metropolitan Sewerage Project, aims to fulfill the long-awaited needs of residents in the Port City by constructing a sewerage system and wastewater treatment infrastructure for the North Kattoli catchment area.

Finally, the Bangladesh Environmental Sustainability and Transformation (BEST) project, a collaboration between AFD and the World Bank, focuses on enhancing environmental regulations and enforcement in Bangladesh. It seeks to tackle pollution and improve environmental quality by strengthening the country’s technical and administrative capacities.

AFD, a bilateral development agency responsible for implementing official development assistance on behalf of the French government, has been actively involved in Bangladesh since 2012. Their support extends to various development projects, including urban development, infrastructure initiatives, power and green energy projects, and corporate and social responsibility endeavors. AFD’s commitment to Bangladesh’s development is evident in its provision of EUR 2,101 million in technical assistance projects and a budget support loan of EUR 300 million.

This collaboration between Bangladesh and AFD signifies a significant step towards accelerating the country’s progress and addressing vital areas of development. The funding secured through the CFAs will play a crucial role in promoting sustainable growth and improving the socioeconomic landscape of Bangladesh.

Share this

Economy

Egypt Backs Bangladesh Mission Construction, Eyes Closer Ties

Published

on

bangladesh egypt

Bangladesh and Egypt have affirmed their commitment to enhancing bilateral cooperation through regular foreign office consultations.

During a meeting between Foreign Minister Hasan Mahmud and Egyptian Foreign Minister Sameh Hassan Shoukry on Saturday afternoon, held on the sidelines of the 15th Organisation of Islamic Cooperation (OIC) Summit in Gambia, discussions were held on various matters of mutual interest. These included boosting trade and investment between the two nations and addressing the Rohingya crisis.

Foreign Minister Hasan Mahmud proposed mutual visa exemption and expanding trade with Egypt during the meeting. The Egyptian foreign minister agreed in principle to sign an agreement on diplomatic and official visa exemption.

Additionally, the Egyptian foreign minister pledged full support for the construction of the Chancery building of the Bangladesh mission in Egypt.

Following this, Deemah Al Yahya, Secretary General of the Digital Cooperation Organization (DCO), paid a courtesy call to Foreign Minister Dr Hasan Mahmud.

During the meeting, Al Yahya informed the Foreign Minister about the drafting of an agreement titled ‘Multilateral AI Agreement’ on the International Use of Artificial Intelligence by the member states of DCO.

Expressing sincere interest, Al Yahya accepted the invitation from the Foreign Minister to visit Bangladesh and witness the country’s progress in the field of information and communication technology. He expressed hope for expanding DCO’s cooperation with Bangladesh in this sector through the visit.

Share this
Continue Reading

Economy

Settle disputes through dialogue, say ‘no’ to wars: PM Hasina at UNESCAP meet

By

Published

on

UNESCAP hasina

Prime Minister Sheikh Hasina today (25 April) called for speaking out against all forms of aggression and atrocities, and say ‘no’ to wars.

“We must speak out against all forms of aggression and atrocities, and say ‘no’ to wars,” she said adding that Bangladesh supports the UN Secretary General’s ‘New Agenda for Peace.

The prime minister was addressing the 80th Session of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) held at the ESCAP Hall (2nd floor), United Nations Conference Center (UNCC) here.

She arrived in Bangkok on Wednesday on a six-day official visit to Thailand.

The PM said the pre-condition for sustainable development is lasting peace and security.

“We must settle regional disputes and tension through dialogue. Our mutual respect for national sovereignty and territorial integrity must remain paramount,” she said.

Hasina called upon the Asia-Pacific region, especially ASEAN, to redouble their efforts to end Rohingya crisis as all efforts at regional connectivity, integration, and prosperity will continue to be marked by a missing puzzle without it.

“The origin of their crisis has been in Myanmar, and its solution also lies in Myanmar,” she declared.

“As long as that solution remains out of reach, all our efforts at regional connectivity, integration, and prosperity will continue to be marked by a missing puzzle. Let us redouble our efforts to put that puzzle back in place,” she said.

She said that in August 2017, when thousands of Rohingya men, women, and children from Myanmar fled to Bangladesh, Bangladesh offered them temporary shelter.

“With an ever growing population, this has now become one of the largest humanitarian situations in the world,” she said.

Sheikh Hasina said that In the backdrop of ongoing armed conflicts in Myanmar, the Rohingya repatriation process is also getting delayed.

“This is creating serious security risks within and beyond our territories,” she said.

She called upon the Asia-Pacific region, especially ASEAN, to play a proactive role in resolving the volatile situation in Myanmar.

“We must ensure that the Rohingya can go back home in safety and dignity at the earliest possible,” she said.

The prime minister said that the Asia-Pacific region must stand united against its common enemies of poverty and hunger.

She said Bangladesh has reduced poverty from 41.51 percent to 18.7 percent between 2006 and 2022.

It also reduced extreme poverty from 25.1 to 5.6 percent during the same period.

“We remain confident about eradicating extreme poverty by 2030,” she said.

She mentioned that Bangladesh has made notable progress on food security, with focused interventions on maternal and child nutrition.

“Our current priority is to address inequalities through income distribution, asset ownership, and social protection,” she said.

The prime minister said that Asia-Pacific region must put up a united front in tackling the climate crisis, biodiversity loss, and transboundary pollution.

“We need to push for ambitious climate financing goals beyond 2025 at COP-29. We need to cooperate on cross-border water management and air quality improvement. We must all prepare for growing extreme weather events,” she said.

In this connection, she suggested looking into Bangladesh’s experience in disaster risk reduction.

“We appreciate UN-ESCAP’s support in improving our early warning capabilities,” she added.

Briefly describing various development programmes and achievements of her govebrment, the prime minister said that much of the development gains are affected by climate impacts.

“As a low-lying delta, Bangladesh has no option but to invest heavily in climate resilience,” she said.

She mentioned that Bangladesh is already recognised as a global leader in climate adaptation.

“We are happy to share our traditional and innovative solutions with other vulnerable countries,” she said.

She said that Bangladesh has urged developed and emerging economies in the region to raise their time-bound emission reduction targets.

“For economies in transition, it is important to have a just energy transition.”

In Bangladesh, she said, “we are working on long-term energy security with a sound mix of clean and renewable energy.”

“We shall continue to do our part in pursuing a circular and low-carbon economic growth pathway.”

She underscored the need for increased and easy access to financing and technology from both the public and private sectors.

“I invite UN-ESCAP to help build the capacity of climate-vulnerable countries to mobilise adequate international climate financing.”

PM Hasina said that Bangladesh now provides critical links to the Trans-Asian Highway and Railway networks.

“Our physical and digital infrastructures are being developed to foster regional trade and connectivity.”

She said Bangladesh offers access to the Bay of Bengal for land-locked territories in its neighbourhood.

“We stand ready to work together with all regional partners through mutual understanding and cooperation,” said the prime minister.

Share this
Continue Reading

Economy

Bangladesh-Qatar Strengthen Ties with 10 Cooperation Deals

Published

on

bangladesh qatar

Bangladesh and Qatar signed 10 cooperation documents on Tuesday, including five agreements and five MoUs, aimed at strengthening ties and elevating relations to new heights.

Prime Minister Sheikh Hasina and Qatar’s Emir Sheikh Tamim bin Hamad Al Thani witnessed the signing of the documents.

The five agreements cover cooperation in the legal field, promotion and protection of mutual investments, avoidance of double taxation, maritime transport, and the establishment of a Joint Business Council (JBC) between FBCCI & QCCI.

The five MoUs include cooperation in sports and youth, manpower employment (Labour), diplomatic training, education, higher education, scientific research, and between Qatar Ports management Company “MAWANI QATAR” and Chittagong Ports Authority.

Earlier in the morning, PM Hasina warmly welcomed and received Emir Sheikh Tamim at her office.

They had a tête-à-tête meeting at the Prime Minister’s Office, followed by a bilateral meeting.

After signing the visitors’ book, the emir headed for Bangabhaban where the president received him.

A high-level Qatari delegation led by Qatar’s emir is on a state visit to Bangladesh at the invitation of the president and the prime minister.

During the ceremony, a road and a park in Dhaka were named after Emir of Qatar Sheikh Tamim Bin Hamad Al Thani.

The park, constructed in Kalshi area of Mirpur under Dhaka North City Corporation, and the road from Mirpur ECB point to Kalsi Fly Over were named after Emir of Qatar.

Now, the road and park are known as Sheikh Tamim Bin Hamad Al Thani Avenue and Sheikh Tamim Bin Hamad Al Thani Park.

Share this
Continue Reading