Funding for Ctg port bay terminal soon: WB country director

The World Bank will soon start financing construction of the breakwater and channel of Chattogram port's bay terminal to increase the port's capacity, the bank's country director for Bangladesh and Bhutan, Abdoulaye Seck has said.

"We have engaged in discussions with the private sector as part of the social and environmental feasibility study before funding the bay terminal project," he added.

Abdoulaye Seck, along with a delegation of the World Bank, took part in a views-exchange meeting with the leaders of Chattogram Chamber of Commerce and Industry (CCCI) in Agrabad of the port city on Wednesday.

He said, "Once the bay terminal project is implemented, Chattogram will become a logistics hub by increasing sea connectivity. Besides, the ongoing connectivity project between Chattogram and India's landlocked North-East, including Bhutan and Nepal, will also be fruitful."

Mentioning that Bangladesh is working towards transitioning into a middle-income country by 2026 and a developed country by 2041, Abdoulaye Seck said, "The amount of import and export of Bangladesh is increasing. The World Bank is also supporting the implementation of various projects in this country's progress."

CCCI President Omar Hazzaz said, "Domestic and foreign investment is increasing in five industrial zones in Chattogram and three zones in Cox's Bazar. Consequently, the businessmen of the region are looking forward to make full use of the port's bay terminal to make the import-export trade more dynamic for business expansion."

During the meeting, the World Bank delegation pledged to organise various knowledge-based trainings and special workshops on its procurement process jointly with the chamber.