Japan to give its biggest loan package to Bangladesh

[Riyad]

Japan to give Tk 86.6 billion loan for six projects, 'biggest' in Yen for Bangladesh

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.

Japan to give Tk 86.6 billion loan for six projects, 'biggest' in Yen for Bangladesh -
bdnews24.com

 

[posedion]

The Idea of India US Japan South Korea and Australia coming together to enable the control of seas is quite evident, the so called string of pearls by China and their drama in SCS is turning out to be their blunder, actually the loan has its own strategic strings

 

[Red Wolf]

Considering interest rate are so low around the world, credit should be more accessible and not less.

 

[Avisheik]

The credit, which charges 0.01 percent interest, will have to be repaid in 40 years with a 10-year grace period.

Wow that is really selfless of japan. At this interest rate, coupled with inflation over 40 years, japan will probably get back way less than what they loaned us.

Now its up to us to do something good with the money. Really fed up with foreign loans ending up in pockets of politicians or projects stalling midway and becoming a black hole for funds.