Dhaka: The Executive Committee of the National Economic Council (ECNEC) today approved a Taka 4,068.23 crore project for the expansion and modernization of Mongla Port facilities. The approval came from the 7th meeting of the ECNEC in this fiscal year (FY25) and the 6th of the interim government held at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area. ECNEC Chairperson and Chief Adviser Prof Dr Muhammad Yunus presided over the meeting.
According to Bangladesh Sangbad Sangstha, Planning Adviser Dr Wahiduddin Mahmud briefed reporters after the meeting, stating that a total of 13 projects were approved with an overall estimated cost of Taka 12,532.28 crore. Of the total project cost, Taka 4,097.23 crore will come from the government of Bangladesh, Taka 7,328.95 crore as loan, while the rest of Taka 1,106.10 crore will come from the concerned organization’s own fund.
The Mongla Port Authority under the Ministry of Shipping will implement the expansion and modernization project by December 2028. Of the total project cost of Taka 4,068.23 crore, Taka 475.33 crore will come from the government of Bangladesh, while the rest of Taka 3,592.90 crore will be sourced as a loan from China. The main objective of the project is to expand the modern facilities at Mongla Port by enhancing its container handling capacity.
The Planning Adviser emphasized the geopolitical importance of the Mongla Port and the government’s intention to transform it into a ‘regional hub’ by enhancing its container handling facilities. He mentioned that the project has undergone thorough review, with China providing most of the funding. The expansion of the port’s container handling capacity is expected to boost international trade with countries like Bhutan, Nepal, and China.
Dr Mahmud also noted that the development budget will be reviewed next week to finalize the Revised Annual Development Programme (RADP). He highlighted the challenges Bangladesh faces as it graduates from the LDCs, including the reduced availability of soft-term loans from multilateral development partners, and the burden of repaying foreign loans.
To address these challenges, the Planning Adviser suggested increasing overall revenue collection to ensure efficient economic management. He remarked on the importance of foreign loans being invested in the right areas, such as infrastructure, which would encourage private sector investment and the establishment of export-oriented industries.
The meeting also approved other projects, including sanitation improvements in Chattogram, seed production and development, food safety testing capacity development, and several other infrastructure and service delivery enhancements. Concerned advisers, Planning Commission members, and secretaries were present at the meeting.