Japan signs $1.8bn to fund six Bangladesh projects in largest loan deal

[bd_4_ever]

Japan, one of Bangladesh’s largest development partners, has signed the largest loan package with Bangladesh to fund six major projects, including Matarbari port development and Jamuna railway bridge construction.

Other projects—two separate lines of the Dhaka Mass Rapid Transit Development Project, Matarbari Ultra Super Critical Coal-Fired Power Project, and Health Services Strengthening Project—will also be under the new funding.

The loan package comprises assistance in six major projects amounting to Japanese yen 200.371 billion which is approximately $1.8 billion, the Japanese Embassy in Dhaka said in a statement on Thursday.

This will help Bangladesh become a middle-income country, according to the statement.

Ambassador Hiroyasu Izumi and Bangladesh’s Economic Relations Division Secretary Kazi Shofiqul Azam represented the two sides during the signing ceremony of Japan’s 39th Official Development Assistance to Bangladesh on Thursday.

JICA Chief Representative Takatoshi Nishikata and Shofiqul Azam signed a relevant loan agreement.

Japan has been the single largest bilateral donor for Bangladesh since 2012.

https://bdnews24.com/bangladesh/201...-six-bangladesh-projects-in-largest-loan-deal

 

[Black_cats]

Japan confirms $1.83b in aid under 39th ODA package
FE Online Report | Published: June 14, 2018 15:16:58 | Updated: June 14, 2018 15:27:55

https://www.thefinancialexpress.com...183b-in-aid-under-39th-oda-package-1528967818

Representational image

Japan confirmed US$ 1.83 billion (Tk 153.26 billion) in loan for Bangladesh as it signed a credit deal Thursday in Dhaka.

The concessional loan under the 39th Official Development Assistance (ODA) package will be utilised to bankroll six development projects in the country.

Economic Relations Division (ERD) Secretary Kazi Shofiqul Azam and Chief Representtaive of the Japan International Cooperation Agency (JICA) in Bangladesh Mr Takatoshi Nishikata signed the loan agreement.


Besdies, the ERD secretary and Japanese Ambassador in Bangladesh Mr Hiroyasu Izumi signed an exchange of note Thursday at the same function.

Under the proposed 39th ODA package, Japan will provide some Yen 2.65 billion (Tk 2.03 billion) loan for the Matarbari port development project.

The Yen 79.27 billion (Tk 60.63 billion) will be for Dhaka MRT line-6 construction (phase-III) project, and Yen 7.36 billion (Tk 5.62 billion) for Dhaka MRT line-5 feasibility study project.

Besides, it will lend Yen 67.31 billion (Tk 51.48 billion) for the Matarbari ultra-super critical coal-fired power plant (phase-IV) project, Yen 37.22 billion (Tk 28.46 billion) for the Jamuna railway bridge project and Yen 6.56 billion (Tk 5.01 billion) for the health service strengthening project.

In March this year, a Japanese team pledged to channel the money, expressing willingness to confirm.

An ETD official said the aid will be useful for Bangladesh as it will be utilised for developing the new and ongoing projects, including the Matarbari power plant.

"All these projects are very important for the country to ensure smooth transportation and uninterrupted power supply," he added.

The government will have to repay the loan in 30 years with a 10-year grace period.

The JICA will charge 1.0 per cent interest rate for the construction related proejcts, 0.9 per cent for the health sector proejct and 0.01 per cent for the engineering services.

Besides, it will charge 0.20 per cent as the front end fee for the entire amount of loan.

kabirhumayan10@gmail.com

 

[Mage]

The JICA will charge 1.0 per cent interest rate for the construction related proejcts, 0.9 per cent for the health sector proejct and 0.01 per cent for the engineering services.

Besides, it will charge 0.20 per cent as the front end fee for the entire amount of loan.

Yare yare.....

 

[Black_cats]

Bangladesh, Japan sign Tk 15,326cr loan deals for 6 projects
Bangladesh Sangbad Sangstha . Dhaka | Published: 00:05, Jun 15,2018 | Updated: 00:30, Jun 15,2018

http://www.newagebd.net/article/43739/bangladesh-japan-sign-tk-15326cr-loan-deals-for-6-projects

Economic Relations Division secretary Kazi Shofiqul Azam and Japan International Cooperation Agency, Bangladesh Office chief representative Takatoshi Nishikata sign loan agreements in connection with six projects at a ceremony held at the NEC-2 conference room at Sher-e-Bangla Nagar in Dhaka on Thursday. Japanese ambassador to Dhaka Hiroyasu Izumi was also present, among others. — PID photo

The government of Japan will provide 200,371 million Japanese yen (approximately Tk 15,326 crore or $1,831 million) for Bangladesh under its 39th Official Development Assistance (ODA) loan package for implementing six mega projects.
In this regard, the exchange of notes for these six projects was signed on Thursday between Economic Relations Division (ERD) secretary Kazi Shofiqul Azam and Japanese ambassador to Dhaka Hiroyasu Izumi. The loan agreements were signed by the ERD secretary and the chief representative of Japan International Cooperation Agency (JICA), Bangladesh Office Takatoshi Nishikata.
Out of the overall amount, Japan will provide 2,655 million Japanese yen or approximately Tk 203 crore for Matarbari Port Development Project, 37,217 million Japanese yen or approximately Tk 2,846 crore for Jamuna Railway Bridge Construction Project, 7358 million Japanese yen or approximately Tk 562 crore for Dhaka Mass Rapid Transit Development Project (Line 5), 79,271 million Japanese yen or approximately Tk 6,063 crore for Dhaka Mass Rapid Transit Development Project (III), 67,311 million Japanese yen or approximately Tk 5,148 crore for Matarbari Ultra Super Critical Coal-Fired Power Project (IV), and 6,559 million Japanese yen or approximately Tk 501 crore for Health Services Strengthening Project.
The Japanese loan carries a per annum 1 per cent interest rate for construction, 0.9 per cent interest rate for health services and 0.01 per cent interest rate for engineering services. The front end fee is 0.2 per cent. The repayment period is 30 years including a grace period of 10 years.
According to ERD officials, the objective of the Matarbari Port development Project is to construct a new commercial port at Matarbari area of Cox’s Bazar district.
Out of the total cost of 3,511 million Japanese yen
for this engineering services project, JICA will provide 2,655 million yen, which is 75 per cent of the total project cost.
The objective of the Jamuna Railway Bridge Construction project is to construct a dedicated railway bridge over the River Jamuna in parallel with the existing Bangabandhu Bridge.
Approved by ECNEC on December 6, 2016, the project will be implemented by December 2022.
Out of the total project cost of Tk 9,734.07 crore, JICA will provide Tk 7,724.33 crore which is also 79 per cent of the total project cost. JICA will provide ODA loans in phases. Previously, JICA had provided 2,464 million yen for engineering services. Under this package, an amount of 37,217 million yen will be provided.
The objective of the Dhaka Mass Rapid Transit Development Project (Line 5) is to address traffic congestion and air pollution in the capital by constructing some 20 kilometer mass rapid transit system in MRT Line 5 route Hemayetpur-Aminbazar-Gabtoli-Mirpur 1-Mirpur 10-Kochukhet-Cantonment-Banani-Gulshan 2-Notun Bazar-Vatara by 2030.
The total cost of the engineering services project is 9,499 million Japanese yen of which JICA will provide 7,358 million Japanese yen, which is 77 per cent of the total project cost. Aminbazar to Notun Bazar portion will be underground.
The objective of the Health Services Strengthening Project is to establish a system for strengthening non-communicable diseases control and the access to health services by urban poor population in Dhaka through improving the quality of health services at primary and secondary level health facilities in all divisions.
Japan is the single largest bilateral development partner of Bangladesh. Since independence, Japan has been providing financial support in different sectors which contributed significantly in the socio-economic development of Bangladesh.

 

[kaykay]

Japanese loans are a great help for developing countries. Probably cheapest among all lenders!!