Saudi Fund For Development Celebrates Inauguration Of Teesta River Bridge In Bangladesh

The Saudi Fund for Development (SFD) recently took part in the opening of a significant infrastructure project in Bangladesh. Represented by Dr. Saud Ayid Al-Shammari, Director General of Asia Operations, SFD participated in the inauguration of the "Construction of Bridge over Teesta River in Gaibandha Project." This event was also attended by Asif Mahmud Shojib Bhuyain, Bangladesh's Local Government and Youth and Sports Adviser.

The bridge project is valued at $50 million and is funded through a concessional development loan from SFD. It highlights the enduring partnership between SFD and Bangladesh, which has lasted nearly 48 years. The bridge will be approximately 1,500 meters long and made of pre-stressed concrete. It aims to connect isolated villages along the Teesta River in Gaibandha to the main road network.

This initiative is part of a broader effort to enhance transportation and economic activities in the region. By improving access, it facilitates safer mobility for residents crossing the river and boosts trade by easing the transport of goods to markets and neighboring areas. This development supports local communities' growth by strengthening trade and economic exchanges of agricultural and industrial products.

SFD's involvement in Bangladesh dates back to 1977, during which it has financed 16 development projects with concessional loans exceeding $494.7 million. These projects span various sectors, including water, energy, health, and roads. Additionally, Saudi Arabia has provided a grant worth over $106 million through SFD to mitigate cyclone impacts by funding 13 development projects across these sectors.

The bridge project is expected to contribute significantly to social growth and sustainable economic prosperity in Bangladesh. By enhancing connectivity, it will aid in developing vital sectors and fostering prosperity within local communities. The ongoing collaboration between SFD and Bangladesh underscores their shared commitment to advancing development goals.

Through these initiatives, SFD aims to support Bangladesh's journey towards sustainable development by addressing critical infrastructure needs. The partnership reflects a mutual dedication to improving living standards and promoting economic growth across various regions in Bangladesh.

With inputs from SPA