Notwithstanding the decreasing foreign currency reserve, Bangladesh Government is set to provide an additional € 170 million (US $ 183 million) to the Payra Port Authority from the Bangladesh Infrastructure Development Fund (BIDF).
Reports claimed this while adding the country’s central bank-Bangladesh Bank is expected to release the funds as per agreement even if it has given rise to an apprehension of further pressure being created on foreign currency reserves in the country.
Reports further citing an unnamed central bank official added Bangladesh Bank will provide the amount to Sonali Bank to pay the bill of the contractor of the Capital and Maintenance Dredging of the Ramnabad Channel of the Payra Port project, which is Belgium-based Jundunul NV even if the Capital and Maintenance Dredging of the Ramnabad Channel project, which will create a 75 km channel with a depth of 10.5 metres thereby allowing ships with a capacity of 40,000 tonnes to use the Payra Port, will cost around Taka 4,950 crore.