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.
