The World Bank would approximately provide 350 million U.S. dollars concessional credit for the second phase of a rural transportation and improvement project in Bangladesh, the Washington-based bank said in Dhaka Monday.

According to a press release of the World Bank's Dhaka office, the Bangladeshi government's "Rural Transport Improvement Project (RTIP)", since its inception in 2003, has maintained and improved more than 2500 km of rural roads and built or improved more than 110 growth market centers and 30 jetties.

The project so far created more than 30,000 person years of employment in the project area, it said, adding the project's impact area covers over 44,000 square km in the country's 21 districts.

It said the International Development Association, the concessionary arm of the World Bank, is funding 190 million U.S. dollars for the first phase of the project currently which is being implemented by the Local Government Engineering Department.

The World Bank has already disbursed more than 178 million U.S. dollars and the rest will be disbursed by June 2011 when the project would end, it added.

In response to government's request, according to the press release, the World Bank has assured for a second phase of the rural transportation and improvement project. Currently, it said. The World Bank and the government are working together to design the project components with emphasis to results.