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

The Saudi Fund for Development (SFD) recently took part in the opening ceremony of a significant infrastructure project in Bangladesh. Dr. Saud Ayid Al-Shammari, Director General of Asia Operations at SFD, attended the event. The project involves constructing a bridge over the Teesta River in Gaibandha, with funding provided by SFD through a concessional development loan.

The bridge project, valued at $50 million, aims to connect remote villages along the Teesta River to the main road network. This initiative is expected to enhance safe mobility for residents and improve the transportation of goods to markets and nearby areas. Such improvements are anticipated to bolster trade and economic exchanges, particularly in agricultural and industrial sectors.

This project is part of a longstanding partnership between SFD and Bangladesh that has lasted nearly 48 years. Since 1977, SFD has supported Bangladesh with concessional loans exceeding $494.7 million for 16 development projects and programs. These efforts have significantly contributed to the country's social growth and sustainable economic prosperity.

In addition to loans, Saudi Arabia has provided more than $106 million in grants through SFD to mitigate cyclone impacts. These grants have funded 13 development projects across various sectors such as water, energy, health, and roads. The aim is to foster social growth and sustainable economic progress in Bangladesh.

The construction of the pre-stressed concrete bridge, approximately 1,500 meters long, is expected to significantly impact local communities. By improving connectivity and facilitating safer travel across the river, it supports local development and prosperity. The enhanced transport links are also likely to strengthen trade by easing the movement of agricultural and industrial products.

Asif Mahmud Shojib Bhuyain, Bangladesh's Local Government and Youth and Sports Adviser, was present at the inauguration ceremony. His attendance underscores the importance of this project in fostering regional development and cooperation between Saudi Arabia and Bangladesh.

This ongoing collaboration highlights the commitment of both nations to support vital sectors that contribute to economic growth. By investing in infrastructure projects like this bridge, they aim to improve living standards for local communities while promoting broader economic benefits.

With inputs from SPA