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Category Archives: Development News

IFC for private investment in power and railway lands

businessnews24bd.com International Finance Corporation has suggested Bangladesh to allow foreign and local private investments in the lands of the government-owned power plants and railways, said Finance Minister AMA Muhith. He said this to journalists yesterday after a meeting with a visiting IFC delegation headed by its executive vice president Jin Yong Cai at the minister’s Secretariat office in Dhaka. Muhith ... Read More »

Elevated Expressway work begins: Quader

businessnews24bd.com Road Transport and Bridges Minister Obaidul Quader on Thursday said there is no fund crisis in constructing Dhaka Elevated Expressway. “Physical work of the expressway was started today… process of fund mobilization has been started, which is expected to be completed by coming December,” he told reporters while witnessing the construction work of the public private partnership project. He ... Read More »

BD needs more FDI to come out from LDCs’ list

businessnews24bd,com Bangladesh is needed additional US$ 6billion investment in private sector annually to come out from the list of Least Developed Countries (LDCs). Alongside the foreign investment, the country should put concentration on internal resources, attract local and foreign investments as well as export skilled manpower to meet the financial necessity. A 3-day conference of 12 LDCs countries in Asia ... Read More »

JICA allocates 585cr for CCC

Chittagong Bureau Japan International Cooperation Agency  (JICA), a Japan based organization on Wednesday has allocated Tk 585 crore to Chittagong City Corporation ( CCC)  for construction road, cyclone centre-cum school, bridge and overpass in the city corporation. Of them implementation of 18 projects of taka 201 crore is expected to be completed by two years in the first phase. The ... Read More »

Deal signed to construct Muradpur-Lalkhan Bazar flyover

Chittagong Bureau Construction works on the 5.2-km Muradpur-Lalkhan Bazar flyover will begin in the first week of November. Chittagong Development Authority (CDA)signed an agreement with Chinese construction firm Max-Rankin JV to this effect on Tuesday. CDA Chairman Abdus Salam and  Max-Rankin JV Chairman Gulam Muhammad Alamgir signed the deal on behalf of their respective sides in a formal ceremony at ... Read More »

ECNEC approves new power project at 832.44 cr

businessnews24bd.com The Executive Committee of the National Economic Council (ECNEC) today approved a development project for power sector, involving Taka 832.44-crore, which would provide new electricity connection to some three lakh new subscribers. The project titled “strengthening of power distribution system” will cover 41 upazilas of 21 districts in South-Western region of the country.The districts are Rajbari, Madaripur, Gopalganj, Shariutpur, ... Read More »

Chevron announces enhanced gas production from Bibiyana field

Chevron Corporation (NYSE: CVX), the US-based international oil company, Tuesday formally announced its enhanced gas production from Bibiyana gas field. A press statement, released from Chevron’s headquarters in San Ramon of California, said that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of ... Read More »

Govt moves to create 10,000 women IT skilled-manpower

businessnews24bd.com    The government has taken steps to ensure 30 percent women’s participation in the trainings under a World Bank financed Leveraging ICT for Growth, Employment and Governance (LICT) Project aiming at creating over 10,000 women skilled manpower for the IT sector. “We have designed the training programmes under LICT project ensuring at least 30 percent women’s participation and we ... Read More »

WB finances 36 projects involving over $6 b

businessnews24bd.com The World Bank (WB) is currently financing 36 projects involving US$ 6,601.46 million ($6.60 billion), according to a latest document of the global lender. The funding covers the major projects designed to develop infrastructure, power, agriculture and education sectors, water supply, health services as well as skill and capacity building of public institutions. The 36 projects include Skill and ... Read More »

Poverty level to come down to 14-15 pc by 2020: Muhith

businessnews24bd.com Finance Minister AMA Muhith on Sunday said Bangladesh will be able to bring down its poverty level to 14-15 percent by the end of 2020 from 26 percent. “A country with 12-14 percent population living below the poverty line is not poor. I hope we’ll be able to reduce the poverty level to 14-15 percent from 26 percent by ... Read More »