Bangladesh has signed a Tk 373 crore loan agreement with Saudi Arabia for the construction of Mouchak-Moghbazar Flyover in capital Dhaka.
Under the agreement signed in Jeddah on Friday, the Saudi Fund for Development will partially fund the project that will be implemented at a total cost of $115 million.
The finance minister, AMA Muhith, now on an official visit to Saudi Arabia, signed the agreement for Bangladesh while the Saudi finance minister, Ibrahim Bin Abdel Aziz Al-Assaf, signed on behalf of his government, according to a message received in Dhaka Saturday.
During the signing ceremony, the two finance ministers discussed matters of mutual interest, especially in the field of economic activities, investment and other issues relating to bilateral cooperation.
Muhith requested the Saudi finance minister to remove 5 per cent tariff on the goods imported from Bangladesh. The Saudi finance minister agreed in principle with Muhith's request and advised channeling the same through the Gulf Cooperation Council since the matter falls under the purview of GCC.
During the discussion, the Bangladesh finance minister urged his Saudi counterpart for his fullest support in order to ensure more Saudi investment in different development projects in Bangladesh.
The Saudi finance minister expressed his sincere satisfaction on the contribution of the Bangladeshi workforce to the development activities of the Kingdom.
Muhith requested the Saudi finance minister to use his good offices to impress upon the Saudi employers to employ more Bangladeshi professionals and workers in the Kingdom.
The Saudi finance minister expressed the interest of his government to take part in the development efforts of Bangladesh.
Bangladesh ambassador to Saudi Arabia Md Shahidul Islam and other high officials from Economic Relations Division of Bangladesh, Saudi Fund for Development, Bangladesh embassy, and the consulate general of Bangladesh were present at the signing ceremony.
Source : New Age
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