The Bangladesh Road Transport Corporation (BRTC) will import 300 CNG-run buses from Korea to make its services more efficient.
The Executive Committee of the National Economic Council (ECNEC) at a meeting on Tuesday approved the project under which the state-run organisation will get necessary funds from Korea at as low as five percent interest.
The ECNEC meeting, chaired by Prime Minister Sheikh Hasina at the NEC Bhaban in the city, also approved nine other development projects involving Taka 7,844 crore.
Building a concrete grain silo at Mongla Port with a capacity of 50,000 tonnes is one of the major projects, which will help the country to ensure food supply during any crisis period.
The ECNEC approved another important project of Taka 4,691 crore under which all the constituencies would be allocated Taka 15 crore each for rural infrastructure development.
"Members of parliament will only be allowed to choose the projects for their area when the respective government department will be the implementing authorities," Planning Minister Air Vice Martial (retd) AK Khandakar told journalists after the meeting.
He said the members from the opposition also got the same amount of funds for their constituencies.
All the projects should be implemented by 2013, he said.
The other projects are: Faridpur flood protection project, Garai embankment protection project, regional fish and livestock development project (Noakhali component), long bridge building projects at upazila and union levels, Pirojpur-Sri Rampur-
Shawrupkathi and Ullapara-Belkuchi road development project.
Ministers, advisers to the Prime Minister and high government officials attended the meeting.