World Bank approves $650m to develop Bay Terminal in Chattogram

The World Bank has approved $650 million for Bangladesh’s Bay Terminal deep seaport project. The funds will support construction of a 6-km breakwater and dredging operations. The new terminal will accommodate larger vessels, reducing turnaround time and potentially saving $1 million daily. It’s expected to handle 36% of Bangladesh’s container volumes and benefit over one million people. This is part of the World Bank’s record $3.4 billion commitment to Bangladesh in FY 23-24. Source Prothom Alo