World Bank approves $650m for Bangladesh's Bay Terminal deep seaport development to enhance global trade competitiveness.
The World Bank has approved $650m to develop Bangladesh's Bay Terminal deep seaport, aiming to enhance global trade competitiveness, reduce import/export costs, and improve port efficiency. The project involves constructing a 6 km climate-resilient breakwater and dredging the port basin, entrance, and access channels. Operated by international terminal operators, the new terminal will accommodate larger vessels, saving the economy up to $1m daily.
June 28, 2024
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