A great era for Bangladesh and this will change Bangladesh via not only economical sectors but also other sectors. A great news for Bangladeshi people that, Japan is providing a loan of $1.06 billion to Bangladesh. At the current market rate (based on a dollar rate of 122 taka), the amount is about 13 thousand crore taka. In this Japanese assistance includes budget support. There is also money for railway development projects and some of the money will also come as grants for the education sector.
On Friday (May 30) morning, the Chief Advisor’s Press Secretary, Shafiqul Alam, posted a status regarding this on his Facebook page. In that status, he said,
“An agreement has been signed between Bangladesh and Japan regarding this loan. Currently, Chief Advisor Professor Muhammad Yunus is on a visit to Japan.”
In the status Shafiqul Alam said,
“Japan will provide Bangladesh with a total of 1.063 billion US dollars for budget assistance, railway development and scholarships. According to the agreement, Japan will provide 418 million dollars for economic reforms and increasing climate resilience. In addition, $641 million will be spent to upgrade the Joydevpur-Iswardi railway to a dual gauge double line. The Japanese government will provide $4.2 million in scholarship assistance.”
According to the Economic Relations Department (ERD), Japan has released a total of $904.5 million in project assistance loans in the first 10 months of the current fiscal year (July-April).
A joint statement from the two countries after the meeting said that the two leaders had an open and in-depth discussion on bilateral relations and issues of mutual interest. The meeting took place at the Prime Minister’s Office in Tokyo.
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After liberation war Japan always stand to support Bangladesh. This is the high time to create a good relation between two countries. This may bring a new light for Bangladesh. To advance Japan-Bangladesh bilateral relations, especially with the Maheshkhali-Matarbari Integrated Infrastructure Development Initiative (MIDI) and Muhammad Yunus expressed gratitude to the Japanese government for its continued support for sustainable economic growth and development for projects under the Bay of Bengal Industrial Growth Belt (BIG-B) initiative.
Both sides welcomed the signing of the exchange of notes for the Development Policy Loan to strengthen economic reforms and climate change resilience and the signing of the loan for the dual gauge double line construction project between Joydevpur-Iswardi section.
