Japan is lending about 1 lac 65 thousand and 989 million yen (about Tk 11 thousand 410 crores) for three projects in Bangladesh. Of this total, Japan will provide 1 lac 65 thousand and 861 million yen or an estimated Tk 11 thousand and 400 crores for investment in the two projects.
Another approved project will get 128 million yen or approximately Tk 9.57 crores.
It was said in a press release on Tuesday (28 June), that the governments of Bangladesh and Japan have signed ‘Exchange of Notes’ and ‘Loan Agreements’ for two development projects and a ‘Grant Agreement’ for one project under the 43rd ODA Loan Package (1st Batch).
Resigning Economic Relations Division (ERD) Secretary Fatima Yasmin signed all the agreements on behalf of Bangladesh and Japan’s Ambassador to Dhaka Ito Naoki signed the Exchange of Notes and Yoho Haikawa, Chief Representative of JICA Bangladesh Office in Dhaka signed the Loan Agreements and Grant Agreements. The event was held virtually.
Out of the total funds, Japan will provide Tk 11 thousand and 400 crores for the second phase of the Dhaka Mass Rapid Transit Development Project (MRT Lane 5, Northern Route) and South Chattogram Regional Development Project. The interest on the loan for construction will be 0.70%, 0.1% for consultancy services and the repayment period is 30 years with a 10-year grace period.
Also, Japan will provide another Tk 9.57 crores for the Improvement of the Metrological Radar System project in Dhaka and Rangpur. Japan is the largest bilateral development partner providing financial assistance to the socio-economic development of Bangladesh.
