$65cr WB grant for Ctg Bay-Terminal project

Chattogram Bureau :

World Bank has approved US $ 65 cr (US$650 million) for deep sea port infrastructure development in the Patenga bay-terminal project. The bank’s board of executive directors approved the assistance on Saturday (June 29), a CPA sources said.
This investment is expected to reduce import and export costs by increasing Bangladesh’s global trade competitiveness and port performance. Along with this, private investment will also be accelerated.
A 6-km climate-resilient breakwater will be constructed to protect the port from currents and extreme weather conditions under the Bay-Terminal Marine Infrastructure Development Project, a World Bank release sources said. It will also include conducting dredging activities in port basins, inlets and channels. This modern bay-terminal will be operated by top international terminal operators, sources added.