Thai Exim Bank to foot 60pc bill for elevated express highway in city

Thai Exim Bank will finance the construction of an18-km elevated express highway around all important traffic points in Dhaka for a "permanent solution" to nagging traffic jams in the capital city.

An official announcement here yesterday said the bank, "with full support of the government of Thailand", will provide 60 percent of the total project cost on easy terms. The rest 40 percent will come from the Thai government as grant assistance.

The plan was disclosed when a 12-member high-powered Thai delegation met Communications Minister Nazmul Huda at his ministry yesterday.

About Tk 3,000 crore will be spent on the implementation of the project, which is expected to be completed by three and a half years.

The delegation led by Exim Bank's President Sataporn Jinachitra is now in the city to ascertain how the planned project can be implemented successfully.

During the Thai prime minister's recent visit to Bangladesh, Prime Minister Khaleda Zia had sought cooperation of the Thai government in constructing Bangkok-model elevated express highway to remove traffic congestion and facilitate easy commuting on the city streets.

The delegation will sit with some more specialised organisations and institutions of the government, including the communications ministry, to discuss technical and financial aspects of the project.

During the talks, they informed the meeting that the Thai Prime Minister Thaksin Shinawatra is likely to visit Bangladesh in January next.

Communications Secretary Syed Rezaul Hayat, Chief Engineer of the Roads and Highways Department Sheikh Rabiul Islam and senior officials took part in discussion.