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ADB to fund development works in CHT |
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October 4, 2000
Dhaka (UNB) Asian Development Bank (ADB) has concluded negotiations with Bangladesh on a US$60.3 million loan for funding development works in the Chittagong Hill Tracts. Of the estimated cost of the CHT Rural Development Project, ADB considered a loan of US$30 million from its special fund resources and US$15 million would be cofinanced by DANIDA, an official release said yesterday (Tuesday). Mahfuzul Islam of CHT Affairs Ministry and Ms Suganya Hutaserani, senior Economist of ADB, were the chief negotiators on the respective sides at the negotiations completed on September 28. Other members of the government delegation included M Shafiqul Islam, Joint Secetary, ERD, Md Matiur Rahman Superintending Engineer, LGED, and Debadatta Khisa, executive officer, CHT Regional Council. CHT Affairs ministry will be the executing agency for the project. The CHT Regional Council will be the Lead Implementing Agency for the project and will be responsible for overall project implementation. The project aims at reducing the incidence of absolute poverty in CHT and providing a confidence-building environment to underpin the CHT Peace Accord, said the announcement. It will increase employment and income-generating opportunities for the population, and result in a general improvement in the quality of life of the target population, said the ADB statement. The project includes upgrading basic rural infrastructure of feeder roads, rural roads and trails, and a community development component that will establish a community investment fund in each of the hill districts to provide matching funds for small-scale activities at village level. It will also provide microfinance to enable the poor to improve their income-generation capacity through development of micro-enterprises and project management support. |