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France & Bangladesh Ink €184M Credit Facility Agreement as French President Emmanuel Macron Makes Landmark Visit to Dhaka
In Presence Prime Minister of Bangladesh, Sheikh Hasina and of French President Emmanuel Macron, representatives of the Ministry of Finance signed a credit facility agreement with Agence Française de Développement (AFD) today. The Credit Facility Agreement of €184M was inked to support urban governance and Infrastructure improvement in Bangladesh.
This concessional loan will help the Urban Governance and Infrastructure Improvement or UGIIP project, which will be implemented by the Local Government Engineering Department (LGED). This Result-Based Lending program falls under the broader Government's Municipal Development Plan to strengthen urban governance and institutional capacity. It also serves to provide capital investment for improved municipal infrastructure and service provision in 88 municipalities.
Specific objectives of the project are:
- Strengthening municipal governance
- Improvement of revenue collection
- Capacity building for municipal institutions
- Risk sensitive planning
- Women empowerment
- Concrete infrastructure improvement
- Slum area support
Through this project, LGED and AFD hope to reduce urban poverty, improve urban living conditions, support a more inclusive governance and more resilient municipalities.
Ms. Sharifa Khan, Secretary of the Economic Relations Division (MoF), and Mr. Benoit Chassatte, AFD Country Director in Dhaka signed the agreement on behalf of Bangladesh and France respectively.
Press contact: Arabella SEEBALUCK, Regional Communications Manager for South Asia | +91 96677 08489 | X: @araluck