The 1.8 K.M long bridge has been constructed parallel to historic Hardinge Railway Bridge over the river Padma with the financial assistance from Japan. To construct the bridge, the Government of Japan through JBIC extended soft ODA Yen loan to Bangladesh in two phases. The first phase loan agreement was signed between Bangladesh and Japan on July 01, 1997 while the second phase loan agreement on March 31, 2001. The total cost of the bridge is US $ 184 million of which JBIC contributed US $ 141 million, which is about 80% of the total cost.