WASHINGTON, June 23, 2020- The World Bank’s Board of Executive Directors today approved financing for the following project:
Western Economic Corridor and Regional Enhancement Program Phase I Project
(Multiphase Programmatic Approach)
IDA: $500 million
Project ID: P169880
Maturity: 34 years Grace Period: 4 years
Project Description: The objective of the Phase I Project is to provide efficient, safe, and resilient connectivity along a section of a regional transport corridor in western Bangladesh. The project aims to upgrade the national highway corridor and enhance digital connectivity; upgrade secondary and tertiary roads; provide COVID-19 relief and recovery. Key expected outcomes include the improvement of transport mobility of passengers and goods, reduction in post-harvest losses for select value chains, reduction in traffic fatalities on the corridor, and increase in climate resilience of the road network.
