The inclusion of new locomotives is expected to significantly contribute to modernization of Bangladesh Railway (BR) system and improvement of connectivity and transportation, says the South Korean Embassy in Dhaka. This will ultimately serve as a cornerstone of socio-economic development of Bangladesh, it said. Bangladesh is the second largest recipient of the Economic Development Cooperation Fund (EDCF) loans worldwide in aggregate amount. Also read: S Korea, BGMEA for seizing opportunities through better trade, investment cooperation So far, the Republic of Korea has funded 24 development projects of Bangladesh with total amount of 1.2 billion US dollars through the EDCF. On Wednesday, the inaugural ceremony of 30 metre-gauge and 16 broad-gauge locomotives was held at Kamalapur Railway Station with the virtual presence of Prime Minister Sheikh Hasina as the chief guest. U.S. Ambassador to Bangladesh Peter Haas and South Korean Chargé d’Affaires Jungyoul Lee were also present in the occasion.