The Executive Committee of the National Economic Council yesterday approved the Tk 2,473-crore Cross-Border Road Network Improvement Project to boost regional connectivity.

Japan will finance 75 percent of the project cost, under which 17 bridges, seven culverts and two load control stations will be built. The project will be completed in 2022.

The project has been taken up keeping in mind the Motor Vehicle Agreement signed by India, Bangladesh, Nepal and Bhutan, which will allow seamless movement of people and cargo among the four countries, said a planning ministry official. The roads and small bridges used for establishing regional connectivity are inadequate, and the customs and border management are in a bad shape.

“Bangladesh is situated in the middle of the Asian Highway, and the road network under the project will play an important role in increasing trade and communication with India, Nepal, Myanmar and Bhutan,” he added.

Also at yesterday's meeting, which was chaired by Prime Minister Sheikh Hasina, the Executive Committee of the National Economic Council approved eight more projects, which would require a total of Tk 3,626 crore.

One of the projects is the Bangladesh Economic Zones Development Project, which has been revised higher to Tk 905 crore from the original estimate of Tk 82 crore.

As the scope of work under the project increased, its costs shot up and the World Bank and DFID will provide the entire cost, said the planning ministry official.

The WB and DFID were originally supposed to provide Tk 80 crore but now they are providing Tk 886 crore.