RIYADH, 10 February 2005 — The Islamic Development Bank (IDB) is to fund construction of a massive international telecommunication project in Bangladesh. The country’s finance minister, Mohamed Saifur Rahman, will arrive here today to finalize the deal with the bank .
“Bangladesh would greatly benefit from the new SR225 million project which will boost the existing telecommunication facilities and add new telephone lines,” the new Bangladesh Ambassador Maj. Gen. (Rtd.) S.M.Ikramul Haque told Arab News. On Saturday, the two parties will sign an agreement for commissioning of this telecommunication project. Rahman and IDB President Ahmed Mohammed Ali will be present at the signing ceremony.
Haque pointed out that Bangladesh, one of the founding members of the IDB, has been receiving grants and aids from time to time for its various projects. So far, he said the bank has provided $3,275 million in the form of project financing, trade financing and special grants. Currently Bangladesh enjoys a network of 15 IDB-aided projects and five more of them are being negotiated with the bank. The new envoy hopes to strengthen bilateral ties with new areas of cooperation in the healthcare sector.
About the postponement of the SAARC summit due to India’s last-minute decision not to attend, Haque said: “We are shocked and dismayed at the unexpected decision of the government of India not to attend when all preparations had been completed to keep the SAARC spirit and process alive.”
