Summary of “ADB agog to arrange $3.5b for project funding” by FHM Humayan Kabir, Financial Express, 3 September 2023September 4, 2023
The Asian Development Bank (ADB) has pledged $3.5 billion to support the expansion of Dhaka’s metro system, specifically the MRT-5 southern route. This funding includes a $2.5 billion loan from ADB and $1.0 billion in credit from other foreign lenders as co-financers. The Dhaka Mass Transit Company Limited (DMTCL) will oversee the construction of the MRT-5 southern route, stretching from Gabtoli to Dasherkandi via several key areas. The total cost of this project is estimated at Tk530 billion (approximately $5.0 billion).
The MRT-5 southern route, spanning 17.40 kilometers, is expected to be completed by 2030, with 12.80 kilometers underground and 4.60 kilometers elevated. It will feature 16 stations, with 12 underground and the rest elevated.
Some officials have suggested revisiting the project’s estimated cost, which is higher than similar projects in India and other countries. Negotiations with ADB are expected to confirm the loan, while efforts to reduce the project cost may also be explored. The MRT-5 southern route aims to alleviate traffic congestion in Dhaka city, alongside other infrastructure developments like the Dhaka elevated expressway.