Bangladesh to pay Tk 2.03 billion in Padma Bridge 15th loan installment in March

All repayments are on schedule, with Tk 2.03 billion due this month for the Padma Bridge project, authorities say

The Bangladesh Bridge Authority (BBA) is set to pay Tk 2.03 billion in March as the 15th installment of the loan taken to construct the Padma Multipurpose Bridge.

The Finance Division provided Tk 326.05 billion as a loan for the project.

Under the agreement, the BBA must repay the amount with 1 percent interest over 35 years in 140 quarterly installments.

Refuting social media claims that repayments had stalled since the fall of the Awami League government on Aug 5, 2024, BBA Executive Director Mohammad Abdur Rauf confirmed that all payments remain on schedule.

"We are up to date; we are ready to pay the 15th installment," Rauf told bdnews24.com on Tuesday.

He explained that the lack of public visibility was due to a change in protocol.

"Previously, installments were handed over to the head of government at the Prime Minister's Office, which caught the public eye. We haven't held such ceremonies at the Chief Adviser’s Office, so it went unnoticed," he said.

The last handover occurred on Jun 27, 2024, when the seventh and eighth installments, totalling Tk 3.14 billion, were paid in the presence of then-prime minister Sheikh Hasina.