Western Economic Corridor: Big dream gets stuck in slow lane

Funds are there, with two global lenders committing $2.4 billion. However, the high-profile Western Economic Corridor, designed to establish a connection between the nation's southwestern region and international trade routes, is yet to see the start of physical construction even after almost three years since the approval of its initial phase.

The intended transformation of the 48-km Jashore-Jhenaidah two-lane road into a six-lane highway by the end of this year seems to have hit a roadblock. The same old reasons– – complications in land acquisition and tender process – have been cited for the delay, which, apart from escalating costs, will deprive the people and economy of the intended benefits, as happens in most other big budget projects. 

With a mere 3% financial progress achieved so far, a new deadline has been set for June 2026 to complete this segment of the Western Economic Corridor and Regional Enhancement (WeCARE) Programme, which includes 260km of highway and a network of local roads connecting two land ports – Benapole and Bhomra – and Mongla seaport.

Out of the total estimated investment of $3.5 billion, the World Bank has committed $1.4 billion, while the AIIB is contributing an additional $1.2 billion. The rest of the amount will come from the government.

These funds will support the development of the corridor, which spans from Hatikumrul in Sirajganj – serving as the gateway to the northern region of the country – to Jashore via Ishwardi and Jhenaidah, as well as from Navaron to the Bhomra land port via Satkhira, officials from the Economic Relations Division (ERD) have told The Business Standard.

The programme is to be implemented in phases and could run in 10 years of implementation, says a project document prepared by the government in January 2020.

Read Full Article:

Share This Article

Related Articles

India targets net-zero carbon emissions by 2070, says Modi

India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.

COP26: What climate summit means for one woman in Bangladesh

China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.

Why China's climate policy matters to us all

China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.

Deliver on promises, developing world tells rich at climate talks

A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.