Bangladesh, Korea sign deals to strengthen operational capacity of railway

Bangladesh signed deals with Korea today (19 January) to strengthen the operational capacity of Bangladesh Railways by providing consultancy services, supplying essential equipment and delivering training programmes.

The deals - Record of Discussion (RoD) & Terms of Reference (ToR)- were signed for a project titled "Improvement Project of Rolling Stock Management & Maintenance in Bangladesh", reads a press release issued by the Economic Relations Division of the finance ministry.

The project will be implemented by the Bangladesh Railway, under the Ministry of Railways. 

The Ministry of Land, Infrastructure, and Transport of Korea will provide an amount of $3.69 million (approximately Tk44.30 crore) as a grant to implement the project, said the media release. 

According to the release, these initiatives are to ensure the sustainable maintenance of locomotives procured by Bangladesh Railway earlier under the Economic Development Cooperation Fund (EDCF) of Korea Eximbank. 

Miranda Mahrukh, additional secretary and wing chief (Asia, JEC, and F&F), Economic Relations Division (ERD), on behalf of the Government of Bangladesh, and Nam, Young-woo, assistant minister for infrastructure affairs, Ministry of Land, Infrastructure and Transport (MOLIT), on behalf of the Republic of Korea, jointly signed the deals.