Japan to give Tk 86.6 billion loan for six projects, 'biggest' in Yen for Bangladesh
Staff Correspondent, bdnews24.com
Published: 2015-12-13 17:23:08.0 BdST Updated: 2015-12-13 18:08:41.0 BdST
Bangladesh has signed a deal with Japan for a Tk 86.6 billion loan to be spent on six projects such as power, health, and infrastructure.
The credit, which charges 0.01 percent interest, will have to be repaid in 40 years with a 10-year grace period.
Japanese Ambassador Masato Watanabe says it is the biggest loan in Yen the country is giving to Bangladesh.
The deal was inked on Sunday between the two governments at the National Economic Council.
Economic Relations Division’s (ERD) Senior Secretary Mohammad Mejbahuddin and Japan International Cooperation Agency’s (JICA) Chief Representative in Bangladesh Mikio Hataeda signed the agreement.
“This assistance from Japan will take our economy to a new height. Bangladesh needs a lot of investment to graduate from a lower-middle income country to a higher-middle income one,” the ERD secretary said at the ceremony.
The Japanese envoy in Dhaka also attended the ceremony.
“This is the biggest loan in Yen Japan is giving to Bangladesh. It’s part of the $6 billion assistance which was promised during Prime Minister Sheikh Hasina’s Tokyo visit,” said Ambassador Watanabe.
The loan will be spent on projects on boosting foreign direct investments, upgrading the Dhaka- Chittagong power grid, modernising urban building safety, development of bridges, improving maternal and child health, and establishing good governance at Upazila levels.
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