The World Bank (WB) will provide the financial and technical supports for implementing Bangladesh, Bhutan, India and Nepal (BBIN) initiative for smooth passenger and cargo vehicular movement among the four South Asian countries.
The international lending agency will initially provide Tk 1,000 crore to implement the project (Bangladesh part) in order to make regional trade easier and improve communication system further.
Commerce Minister Tofail Ahmed said this after his meeting with a delegation led by Qimiao Fan, Country Director for Bangladesh, Bhutan and Nepal, at his Secretariat office.
The WB will work closely with the Commerce Ministry to implement the project, the minister said in a press release from the ministry.
The Commerce Minister said Qimiao highly appreciated Bangladesh for attaining capacity to implement large development projects.
The WB country director also appreciated Bangladesh’s socioeconomic development, progress in women empowerment and infrastructure development.
Minister Tofail said the global lender is now cooperating with Bangladesh in 40 areas and assured of boosting cooperation with Bangladesh.
Senior Commerce Ministry officials were present in the meeting.
BBIN is an initiative taken to promote safe, economical efficient and environmentally sound road transport in the sub-region and to further help each country create an institutional mechanism for regional integration.
BBIN countries are expected to benefit by mutual cross-border movement of passengers and goods for the overall economic development of the region.
The people of the four countries will benefit through seamless movement of goods and passenger across borders, the member countries presume.
Source: Ittefaq
