The World Bank has approved USD 507 million for two infrastructure projects in Bangladesh.

The project include a capacity building scheme for local financial institutions and improvement of multimodal transport and trade logistics infrastructure, a press release issued today said.

The capacity building project will help local financial institutions to extend long-term credits for infrastructure ventures beyond the usual lending period of five to seven years.

“Bangladesh needs faster and higher quality growth to attain its vision of becoming a middle income country by 2021,” said Qimiao Fan, World Bank Country Director for Bangladesh.

“These two projects will help develop the much-needed infrastructures through building a private sector-led, long-term infrastructure financing platform and improving trade logistics.”

In addition, the project will benefit female traders and entrepreneurs through facilitating skills development programs, improving logistics and transport services, the press release read.

News:the daily star/7-apr-2017