World Bank has assigned a loan amount of $ 500 million to Bangladesh on June 23 2020. The $ 500 million amount was approved for improving road connectivity along the Jashore-Jhenaidah corridor that will benefit 4 western districts of Bangladesh to connect with the capital Dhaka . This will be Phase I of the overall $ 1.4 billion multi-phase projects of the World Bank for improving road connectivity in Bangladesh.
the western districts of the Bangladesh are endowed with much natural and agricultural produced stated by The World Bank. The project once finished will have great economic potential for the entire region.
Phase I of the Project
Western Economic Corridor and Regional Enhancement (WeCARE) is a Phase I of the project for which $ 500 million has been approved . In Phase I, an existing 110 Km (68 miles) of two-lane highway will be upgraded to a safer and climate-resilient four-lane highway. This 68 miles project will be part of the Government of Bangladesh larger plan of developing an economic corridor of 260 km (161 miles) in the western part of the country.
Between Jhenaidah and Jashore, 48 Km (29 miles) will also be upgraded on the National7 highway under this Phase. Apart from this, 600 Km (372 miles) of rural roads that connect 32 rural markets will also be improved under this Phase.
Benefits for People and Economy
This Project will create 150,000 jobs, of which about 40 percent of jobs in IT Sector and 20 percent of jobs in economic Sector will be for women according to report.
World Bank Approves $500 Million to Bangladesh World Bank Approves $500 Million to Bangladesh