The World Bank is poised to initiate funding for the construction of the breakwater and channel at the Chittagong Port’s bay terminal, aimed at enhancing the port’s capacity, as stated by Abdoulaye Seck, the World Bank’s Country Director for Bangladesh and Bhutan.
He added, “We have engaged in discussions with the private sector as part of the social and environmental feasibility study before financing the bay terminal project.”
Abdoulaye Seck, accompanied by a delegation from the World Bank, participated in a discussion meeting with the leaders of the Chittagong Chamber of Commerce and Industry (CCCI) in Agrabad, the port city, recently.
He emphasised, “Once the bay terminal project is realised, Chittagong will evolve into a pivotal logistics hub by improving its maritime connectivity. Additionally, the ongoing connectivity project between Chittagong and India’s landlocked North-East, including Bhutan and Nepal, will yield positive results.”
Highlighting Bangladesh’s aspirations to transition into a middle-income country by 2026 and a developed country by 2041, Abdoulaye Seck noted, “The volume of imports and exports in Bangladesh is on the rise, and the World Bank is supporting the implementation of various projects to further this country’s progress.”
CCCI President Omar Hazzaz noted, “Both domestic and foreign investments are increasing in five industrial zones in Chittagong and three zones in Cox’s Bazar. Consequently, the local business community is eager to leverage the potential of the port’s bay terminal to invigorate import-export trade for business expansion.”
During the meeting, the World Bank delegation committed to organizing a series of knowledge-based training sessions and special workshops on its procurement processes in collaboration with the chamber.
