Abu Dhabi, July 14 (IANS/WAM) The Abu Dhabi Fund for Development (ADFD) has signed an agreement to provide 110 million dirhams in loan to Bangladesh for a road project.
The loan agreement for the Bangladesh SASEC Road Connectivity Project was signed by ADFD acting director-general Mohammed Saif Al Suwaidi and Kazi Shofiqul Azam, under-secretary assistant for economic relations in Bangladesh's ministry of finance.
Al Suwaidi said the project will not only help Bangladesh but also its neighbouring countries, "because international routes in South Asia will be linked and this will lead to increase in trade among Asian countries, especially Nepal, Bhutan and northeast India".
The ADFD's involvement in Bangladesh goes back to 1976. Since then, the fund has offered and managed loans and grants totalling around 382 million dirhams.
--IANS/WAM
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