Bangladesh to get $150m loan from ADB for railway services

Dhaka: Bangladesh will receive a $150 million (Dh551.7 million) in loan from the Asian Development Bank (ADB) to improve railroad services, a senior official said Saturday.

Musharraf Hussain Bhuiyan, secretary of the econ-omic relations division of the Finance Ministry, told Reuters the loan would be used to revamp the dilapidated railway sector, which has been incurring losses.

A better railway network would also help Bangladesh's trade with neighbouring countries, Bhuiyan said.

Most people in Bangladesh use roads, because trains are unreliable or do not service many areas in the country.

Bangladesh railway would utilise the loan to renovate railway tracks and signalling systems, procure modern locomotives, develop railway workshops and construct bridges and other infrastructure, the official said.