Dhaka, Mar 22 (UNB) – KfW Development Bank of Germany will provide 10.50 million Euro or approximately Tk 107.10 crore for a project titled ‘Climate change adapted urban development in Khulna’.

An agreement to this end was signed on Thursday between Germany and Bangladesh at the Economic Relations Division (ERD). Senior Secretary of ERD Iqbal Mahmood and Uwe Ohls, director general of KfW Development Bank for Asia and Europe inked the financing agreement on behalf of their respective sides.

The project will be implemented by the Local Government Division during the period from July 2011 to December 2016.

The amount will be provided as financial assistance in the form of parallel financing as German grant to implement the proposed sub-project with the Asian Development Bank (ADB) under ‘City Region Development Project’.

The main objective of the project is to improve the transport related urban infrastructure in Khulna Division and eradication of poverty along with adaptation of climate change and strengthening the local government institutions.