Nearly a decade after its launch, the World Bank-backed project to upgrade the Chittagong-Dhaka-Ashuganj multimodal trade and passenger route has seen little progress, prompting frustration from the global lender.

Launched in July 2016 with $360 million in financing, the project aimed to improve river connectivity through dredging and construction of terminals.

Approved by the Executive Committee of the National Economic Council at Tk 32 billion, it was initially scheduled for completion by June 2024. After delays, the deadline was extended to December 2025, accompanied by an upward cost revision to Tk 33.49 billion.

Yet, as of July 2025, the Bangladesh Inland Water Transport Authority (BIWTA) had completed only 62.85% of planned works. Major terminal construction at Pangaon, Narayanganj, and Chandpur remains unfinished. Officials say contractors abandoned the sites after last year’s political transition, forcing BIWTA to seek new tenders.

A joint review by the World Bank and the Economic Relations Division last month voiced dissatisfaction, stressing that without terminal completion, the project’s core objectives cannot be achieved.

BIWTA has now proposed a second revision, reducing the project cost to Tk 28 billion after the World Bank cut its commitment to $214 million, while seeking an extension to December 2027.

Only dredging works along the Chittagong-Dhaka-Ashuganj route have continued without significant disruption. Other planned components—cargo and passenger terminals, equipment procurement, and facility modernization—remain stalled, mainly.

A Planning Commission official stated that the revised proposal is currently under review and will be approved if deemed feasible.