Bangladesh, Nov. 5 -- Bangladesh has made fresh progress in securing South Korean financing for the long-planned MRT-5 Southern Route, with the Korean Export-Import Bank agreeing to review its earlier commitment to the project. A proposed US$1.1 billion loan from Seoul would help meet the substantial financing requirements of the $3.71 billion metro-rail project, which is expected to strengthen public transport connectivity and ease chronic traffic congestion in Dhaka.

South Korea will consider Bangladesh's request for a $1.1 billion loan for the MRT-5 Southern Route project as the country pursues financing for the construction of the metro-rail line, officials said on Wednesday.

Finance and Planning Minister Amir Khosru Mahmud Chowdhu...