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Published on June 16, 2014
Economic Relations Division (ERD) secretary Mohammad Mejbahuddin and Chief Representative of JICA HIKIO Hataeda signed the ODA loan package at a ceremony here today in presence of finance minister AMA Muhith and Charge d' affairs ad interim, Japanese embassy in Dhaka and JICA president Dr Akihiko Tanaka.
According to the agreement, the loan package will provide solid foundation for BIG-B (Bay of Bengal Industrial Growth Belt) Initiative proposed in the summit talk between Bangladesh Prime
Minister Sheikh Hasina and Japanese Prime Minister Shinzo Abe during her visit to Tokyo last month.
As per the agreement, JICA will give US$ 406 million for Matarbari Ultra Super Critical Coal-fired Power Project, US$ 231 million for Natural Gas Efficiency Project, US$ 300 million for Inclusive City Governance Project, US$149 million for Haor Flood Management and Livelihood Improvement Project and US$ 97 million for Small and Marginal Sized Farmers Agricultural Productivity Improvement and Diversification Financing Project.
The concessionality of the loan is mostly generous with the annual interest rate at 0.01 per cent and a 40-year repayment period with 10-year grace period.
Appreciating Japan for its continuous assistance for Bangladesh, finance minister AMA Muhith said Prime Minister Sheikh Hasina's recent visit to Japan and China has opened up a new era of mutual cooperation.
He said the government of Sheikh Hasina has taken up massive programmes for infrastructure development and countries like Japan and China can extend their support for implementation of these programmes.
Muhith said an excellent investment environment is prevailing in Bangladesh and its domestic market is also expanding.
State Minister for Energy, Power and Mineral Resources Nasrul Hamid in his speech said the government will take all out steps to successfully implement the power project. He sought JICA's cooperation in timely implementation of the project.
JICA president Dr Akihiko Tanaka JICA is proud of working together with the people and the government of Bangladesh. Bangladesh has become the third largest partner country of Japanese Official Development Assistance (ODA) with remarkable improvement in poverty reduction, education and health conditions, he added.
-Bangladesh Sangbad Sangstha (BSS)
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