Sunday 22 July 2018 ,
Sunday 22 July 2018 ,
Latest News
  • AL to accord mass reception to PM today
  • 2 ‘drug traders’ killed in Kushtia, C’nawabganj ‘gunfights’
  • People suffer amid scorching heat; rain expected
  • Mount pressure on Naypyitaw
  • High feed prices hamper fattening of cows
4 January, 2018 00:00 00 AM
Print

WB wants regional connectivity project expedited

JAGARAN CHAKMA
WB wants regional connectivity project expedited

The World Bank (WB) wants to expedite the implementation of Regional Connectivity Project -1 (BRCP1) with corrective measures.

A WB team, which carried out an implementation support mission during December 9-14, has urged the Bangladesh Land Port Authority (BLPA) to urgently complete recruitment to key project implementation unit (PIU) consultancy posts, set up accounts and systems, request budget, and initiate the tender process of critical procurement packages.

To improve connectivity and trade with India, Bhutan, and Nepal, the BRCP1 will invest in infrastructure, systems and procedures to modernise three key land ports at Bhomra, Sheola and Ramgarh while improving security at the Benapole land port.

By modernising customs and developing ICT infrastructure, the project will reduce the average time needed to meet the regulatory requirements associated with trade activities and clear the traded goods at land ports.

The WB will provide USD 150 million zero-interest IDA credit with a 38-year term, including a six-year grace period, and a service charge of 0.75 per cent for the project.

With the support of the WB, the BLPA is going to construct three new land ports in Bangladesh under the Bangladesh-Bhutan-India-Nepal (BBIN) Initiative to boost regional trade. These land ports have been planned at Sheola in Bianibazar, Sylhet, Thegamukh at Barkal in Rangamati, and Bhomra in Satkhira.

Feasibility studies have been conducted, said a Bangladesh Land Port Authority (BLPA) official.

The WB has promised to provide USD 150 million to Bangladesh to develop the ports, he added.

The WB country director, Qimiao Fan, had earlier said in Dhaka that the Bangladesh Regional Connectivity Project-1 will help reduce the time and cost of regional trade. The project has several components. First, it will support the investment to improve a couple of land ports under the shipping ministry and support the National Board of Revenue to set up a single window for trade. Second, the project will improve the capacity of traders by providing them with support and services.

“We hope this project will help enhance regional integration through trade, transport and power trade, among others,” the WB country director had said.

A BLPA official said the decision to establish the land ports has been taken to increase economic activities in areas where these would be located. “With increasing economic activities, import-export costs will decrease. Local people will benefit from the project,” he added.

The detailed project proposal (DPP) for the three ports has been prepared and sent to the shipping ministry, the official told The Independent.

Currently, the country has 17 land ports, among which the BLPA runs 11. The rest are being run by private operators. Some of them are not fully functional due to lack of infrastructure.

According to the BLPA, the Bhomra port will be very close to Kolkata, India. If the facilities of this port are developed properly, businesses of both countries would benefit with decreasing import-export costs.

Earlier, shipping minister Shajahan Khan had said that the government will develop Sheola, Thegamukh and Bhomra land ports to expand regional trade and economic activities. These will help expand Bangladesh’s trade with India, he added.

In addition, the project will benefit female traders and entrepreneurs through facilitating skill development programmes, improving logistics and transport services at key border points, and developing a simplified trade regime and clearance procedures.

Comments

Poll
Today's Question »
Dhaka wants UNSC to deliver on Rohingya issue as the powerful council sits tomorrow. Do you think it’ll be able to take any effective measure?
 Yes
 No
 No Comment
Yes 75.0%
No 25.0%
No Comment 0.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01020304050607
08091011121314
15161718192021
22232425262728
293031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting