$50m Saudi-BD loan deal for Teesta Bridge in Gaibandha signed

City Desk :
A loan agreement for 187,50 million Saudi Riyals, equivalent to 50 million U.S. Dollars was signed in Dhaka between the Saudi Fund for Development represented by Ahmed Al-Ghannam, Director General of Saudi Export Programme, and the Government of Bangladesh represented by Mohammad Amjad Hossain, Joint Secretary, ERD, Ministry of Finance on December 26 last. The Saudi Embassy in Bangladesh said this in a press release.
The amount of this soft term loan has been allocated for financing a vital project in the transportation sector namely ‘Construction of Bridge over the Teesta River’ in Gaibandha.
The signing of this loan agreement brings the total amount provided by the Saudi fund for Development for financing 17 development projects in Bangladesh to US$ 561, 658, 666/67 which will deepen the bilateral cooperation and enhance the good relations the two sides have been enjoying.