National
ADB Secures $261mn for Rampura Amulia Demra Expressway
The Asian Development Bank (ADB) has successfully mobilized $261 million in private sector capital for the Rampura Amulia Demra Expressway, a four-lane, 13.5 km project serving as a public-private partnership (PPP) in Bangladesh. By easing traffic congestion and improving connectivity between Dhaka and other major cities, this initiative promises significant benefits.
Funding for the project comes from a $193 million senior loan provided by the Asian Infrastructure Investment Bank, Bank of China, DBS Bank Limited, and Infrastructure Development Company Limited. The remaining $68 million comes from sponsors as equity contributions.
ADB played a crucial role in project structuring, negotiations, tender execution, and provided support for commercial award and financial closure. This expressway will enable quicker access to destinations, benefiting commuters in eastern and southeastern districts of Bangladesh, including Chattogram, Narayanganj, and Sylhet.
The Rampura Amulia Demra PPP project was developed under an availability payment mechanism with partial revenue linked to the US dollar and taka exchange rate movements. ADB’s involvement has paved the way for both availability payment and minimum revenue guarantee mechanisms for future private sector investments in Bangladesh’s infrastructure sector.
As part of their programmatic approach to developing road PPPs, ADB has successfully completed the second financial closure of a PPP transaction as a transaction advisor in Bangladesh. They are currently advising the government on the Joydebpur Mymensingh Expressway PPP project, which will improve connectivity to 10 special economic zones.
The Rampura Amulia Demra Expressway will be managed by a consortium comprising China Communications Construction Company Limited and China Road and Bridge Corporation, handling design, construction, financing, operation, and maintenance during a 25-year concession period.
Leaders of the quota reform movement have resolutely refused to negotiate with the government, insisting that their movement will persist until their demands are met.
In a Facebook post, Hasnat Abdullah, a coordinator of the movement, declared, “No discussion through stepping onto blood.”
Asif Mahmud, another prominent leader, echoed this sentiment, stating, “There can be no dialogue with bullets. I would prefer death over this betrayal.”
He further elaborated, “On one side, there are bullets. On the other, there is a call for dialogue. We can’t sit for dialogue while stepping onto the blood of our brothers.”
Earlier, leaders of the quota reform movement accused the government of escalating the law and order situation towards violence, asserting that their movement was peaceful until the government’s intervention.
Vowing to continue their struggle, Asif Mahmud stated, “We will continue our protests till we achieve our demands for reformation of the quota system, reopening of the halls and campuses, making university campuses terror-free, withdrawing political forces from the campuses, and punishing the killers and attackers.”
He added, “The people of the country have encircled those who tried to corner us. No conspiracy will be able to derail our movement.”
Prime Minister Sheikh Hasina today urged both local and international investors to invest in the extraction of marine resources from Bangladesh’s extensive sea areas.
“In order to fortify the blue economy through the diverse utilization of our marine resources, I call upon local and foreign investors to seize the opportunity to invest in Bangladesh. This will enable us to harness more of our marine resources,” she announced.
The Prime Minister made these remarks during the inauguration of the Bangladesh International Aquaculture and Seafood Show-2024 at the Bangabandhu International Conference Centre (BICC) in Dhaka.
She emphasized the importance of adhering to proper standards in the collection, distribution, and processing of fish to boost exports, aiming to make fish the country’s second-largest source of foreign currency.
Sheikh Hasina pointed out that her government has made limited progress in harvesting fish and other sea resources from the deep sea due to a lack of interest from local investors.
“Therefore, we need foreign investment to advance in this area. This is the reality we must face,” she noted.
She also suggested that both local and foreign investors can collaborate in joint ventures or invest separately in this sector to achieve better results.
The Bangladesh Meteorological Department (BMD) has forecasted light to moderate and moderately heavy rainfall or thundershowers, accompanied by temporary gusty winds, across all eight divisions of the country over the next 24 hours, starting from 9 am today.
In its weather bulletin issued this morning, the BMD stated, “Light to moderate rain or thundershowers with temporary gusty wind is expected in a few places over Rangpur, Mymensingh, Chattogram, and Sylhet divisions. Additionally, one or two places in Rajshahi, Dhaka, Khulna, and Barisal divisions may experience similar conditions, with moderately heavy falls anticipated at several locations in Rangpur, Mymensingh, Chattogram, and Sylhet divisions.”
The bulletin also highlighted that the current mild heat wave sweeping across the Rangpur division and the districts of Tangail, Chuadanga, Rajshahi, Pabna, Bogra, and Netrokona may persist.
Daytime temperatures are expected to rise slightly, while nighttime temperatures are likely to remain nearly unchanged throughout the country.
On Wednesday, the highest recorded temperature was 36.7 degrees Celsius, observed in Rajshahi, Rangpur, and Rajarhat. The lowest temperature recorded today was 26.0 degrees Celsius, noted in Bandarban and Teknaf.
Over the last 24 hours, rainfall amounted to 16 mm in Bandarban.
For the capital, the sun will set at 6:48 pm today and rise at 5:21 am tomorrow.
