Govt eyes $5.0b foreign funds for 15 projects

The government is targeting to receive over $5.0 billion worth of foreign funds through 15 infrastructure development and livelihood projects, officials said.

The foreign-aid search committee, headed by Economic Relations Division (ERD) secretary Shahriar Kader Siddiky, will evaluate preliminary development project proforma (PDPP) of 15 such projects next week before they are forwarded to the development partners seeking financial assistance, they added.

The projects target sustainable livelihoods, sewerage development, drainage solution, climate-smart agricultural technology, pre-payment electric meter, the setting up of underground power-transmission cable, and road-infrastructure development, among others.

Documents show that the government wants to upgrade the existing Faridpur-Barishal and Barishal-Kuakata highways which will connect Payra Seaport to the Asian Highway-1 and SAARC Highway Corridor to a multilane dual carriageway.

In this regard the Road Transport and Highways Division is looking for $2.13 billion from any multilateral or bilateral financing institutions.

The Ministry of Primary and Mass Education is also looking for $1.82 billion from development partners for its Smart Primary Education Development Programme (SPEDP) project.

The project aims at development of efficient, inclusive, equitable, climate-resilient, smart, and quality primary education for Bangladesh.

To develop sewerage system in Mirpur in the capital, Dhaka Wasa is seeking for $365 million in foreign assistance in a project with total cost of $404 million.

The Dhaka Wasa expects loan from China Exim Bank for the project which aims at ensuring healthy, environmental and sustainable sewage-management system in Mirpur area, sources said.

Aiming to strengthen Universal Pension System, the finance division is looking for some $250 million from the Asian Development Bank or any other sources as described in the PDPP.

The total project cost is $325 million where the government will provide some $75 million. The project is aimed at building a sustainable and robust eco-system for senior citizens through establishing permanent infrastructure, necessary institutional arrangements with human resources, and sustainable operation systems for National Pension Authority.

Officials said to implement the 'Barind area Resilient and Innovative Development Project' the Ministry of Agriculture is looking for $135 million as project loan from abroad.

The project aims at reduction in dependence on fossil fuel through enhanced use of renewable solar energy to combat climate change. Also it aims at reduction in power stress on the national grid and protecting the environment from the harmful effects of carbon-dioxide emission in the atmosphere.

The Bangladesh Water Development Board eyes $107 million to strengthen its capacity for delivering reliable weather, water, and climate information services to sectors, agencies and communities, sources said.

It looks for low-cost International Development Association (IDA) loan from the World Bank to implement second phases of two projects with the fund.

Contacted, an ERD official said that the committee will check whether the concerned ministries and divisions have already contacted the probable funding agency mentioned in the PDPP and if there is any progress from that side.

"If no progress is there, the ERD committee will suggest alternative funding sources and will forward them to others," he said.