November 29, 2021, 2:34 am
Headlines
Khaleda is free: Anisul Buses without route permits will be seized from Dec 1: Taposh  নারী নির্যাতন প্রতিরোধ পক্ষ ২০২১ উপলক্ষে মানব বন্ধন চট্টগ্রাম-কক্সবাজার এবং যশোর-খুলনা মহাসড়ক ৪ লেনে উন্নীতকরণে সৌদি সরকারের আগ্রহ বিএনপি’র ফন্দি-ফিকির আমরা বুঝি : তথ্য ও সম্প্রচার মন্ত্রী Japan will always stand by Bangladesh : Japanese vice minister  পুষ্টিকর খাবার শ্রমিকের কর্মক্ষমতায় ইতিবাচক প্রভাব ফেলে : শ্রম প্রতিমন্ত্রী গান – কবিতা আর হাতি এঁকে বন্যপ্রাণী হত্যার প্রতিবাদ পরিবেশবাদীদের  realme C25Y with 50MP camera setup now available nationwide Saudi Arabian companies keen to invest in Bangladesh UN resolution on Bangladesh’s graduation from LDC is big achievement: PM বাংলাদেশ জাতীয় নারী ক্রিকেট দলকে যুব ও ক্রীড়া প্রতিমন্ত্রীর অভিনন্দন ২৮ নভেম্বর কোভিড-১৯ সংক্রান্ত সর্বশেষ প্রতিবেদন Prime Minister’s Message on the International Day of Solidarity with the Palestinian People চলতি বছরে রাজধানীতে ১১৪ টি সড়ক দুর্ঘটনায় ১১৯ জন নিহত : রোড সেফটি ফাউন্ডেশন বিলস্ অ্যাপ উদ্ভোধন বাংলাদেশের নারীরা বিশ্বে নিজেদের যোগ্যতার পরিচয় দিচ্ছেন : পররাষ্ট্রমন্ত্রী Bangladesh to extend policy support for investment-friendly environment: PM Territorial Waters and Maritime Zones (Amendment) Act-2021 passed in JS First ever Bilateral Consultations held in Male’ between Bangladesh and Maldives
Treanding
চট্টগ্রাম-কক্সবাজার এবং যশোর-খুলনা মহাসড়ক ৪ লেনে উন্নীতকরণে সৌদি সরকারের আগ্রহ বিএনপি’র ফন্দি-ফিকির আমরা বুঝি : তথ্য ও সম্প্রচার মন্ত্রী Japan will always stand by Bangladesh : Japanese vice minister  পুষ্টিকর খাবার শ্রমিকের কর্মক্ষমতায় ইতিবাচক প্রভাব ফেলে : শ্রম প্রতিমন্ত্রী গান – কবিতা আর হাতি এঁকে বন্যপ্রাণী হত্যার প্রতিবাদ পরিবেশবাদীদের  realme C25Y with 50MP camera setup now available nationwide Saudi Arabian companies keen to invest in Bangladesh বাংলাদেশ জাতীয় নারী ক্রিকেট দলকে যুব ও ক্রীড়া প্রতিমন্ত্রীর অভিনন্দন Prime Minister’s Message on the International Day of Solidarity with the Palestinian People চলতি বছরে রাজধানীতে ১১৪ টি সড়ক দুর্ঘটনায় ১১৯ জন নিহত : রোড সেফটি ফাউন্ডেশন বিলস্ অ্যাপ উদ্ভোধন বাংলাদেশের নারীরা বিশ্বে নিজেদের যোগ্যতার পরিচয় দিচ্ছেন : পররাষ্ট্রমন্ত্রী Territorial Waters and Maritime Zones (Amendment) Act-2021 passed in JS First ever Bilateral Consultations held in Male’ between Bangladesh and Maldives Samsung Air purifier to ensure clean air inside your home বঙ্গবন্ধুর প্রতিকৃতিতে ফরেন অফিস স্পাউসেস এসোসিয়েশন (ফোসা)-এর শ্রদ্ধা নিবেদন নতুন প্রজন্মের জন্য গবেষণা ও সৃজনশীল কাজে প্রণোদনা অব্যাহত থাকবে : বিদ্যুৎ প্রতিমন্ত্রী শুরু হলো স্কুলের মেয়েদের জন্য বিডি গার্লস কোডিং প্রকল্প মোহাম্মদ হানিফের মৃত্যুবার্ষিকী উপলক্ষ্যে প্রধানমন্ত্রীর বাণী মোহাম্মদ হানিফের মৃত্যুবার্ষিকী উপলক্ষ্যে রাষ্ট্রপতির বাণী

Japan to provide $2.665b to Bangladesh

Bangladesh Beyond
  • Updated on Monday, November 22, 2021
  • 47 Impressed

Japan to provide $2.665b to Bangladesh; ‘Exchange of Notes’, ‘Loan Agreements’ signed

 

DHAKA, Nov 22, 2021 (BSS) –

 

Bangladesh today signed ‘Exchange of Notes’
and ‘Loan Agreements’ with Japan for availing $2.665 billion (Japanese Yen
292.279 billion) financing for two development projects and one as budget
support loan.

Fatima Yasmin, Secretary, Economic Relations Division (ERD) signed the
‘Exchange of Notes’ and the ‘Loan Agreements’ on behalf of the government of
Bangladesh while ITO Naoki, The Ambassador of Japan in Bangladesh, signed the
‘Exchange of Notes’. Yuho Hayakawa, Chief Representative, JICA Bangladesh
Office, Dhaka signed the ‘Loan Agreements’ on behalf of the government of
Japan.

The signing ceremony was held at NEC-2 conference room in the city’s Sher-
e-Bangla Nagar area. Finance Minister AHM Mustafa Kamal was connected
virtually while representatives of Finance Division, Power Division, Road
Transport and Highways Division, CPGCBL, PGCB, RHD, DMTCL and other officials
of government of Bangladesh, Embassy of Japan and JICA were present in the
loan signing ceremony, said a Finance Division press release.

Speaking on the occasion, Kamal said Japan is Bangladesh’s most trusted
bilateral friend. “Our Father of the Nation’s historic visit of Japan during
18-24 October in 1973 laid the foundation of Bangladesh-Japan relationship.
That was the beginning of the partnership which strengthened over the years,”

” We express our deep gratitude to the government of Japan for its’
involvement in a number of on-going iconic mega projects including
Bangabandhu Road and Rail Bridge over river Jamuna, Metro Rail Networks at
Dhaka city, HazratShahjalal International Airport 3rd Terminal, Matarbari
Coal Fired Power Plant, Matarbari Sea Port etc,” he added.

The Finance Minister further said that at the beginning of COVID-19
pandemic last year, Bangladesh approached Japan for budget support and it
received very quick positive response. He informed that the government of
Japan provided first ever budget support loan assistance of $320 million to
Bangladesh last year and in line with that $365 million under ‘COVID-19
Crisis Response Emergency Support Loan Phase-2 which was signed today.

“It is also a great pleasure for us that two loan agreements of $2.3
billion under 1st Phase of 42nd Yen Loan Package for 6th tranche Matarbari
Ultra Super Critical Coal-Fired Power Project and 2nd tranche of Dhaka Mass
Rapid Transit Development Project (MRT, Line 1) were signed today,” Kamal
added.

For the two development projects under the 42nd ODA Loan Package (1st
batch), the rate of interest is 0.60% for construction, 0.01% for consultancy
service, Front End Fee (at a time) 0.2%, and repayment period is 30 years
which includes 10 years grace period. For’COVID-19 Crisis Response Emergency
Support Loan Phase 2’, interest rate is 0.55%, Front End Fee (at a time)
0.2%, repayment period is 30 years which includes 10 years grace period.

The projects which are being implemented with these financing are:
Matarbari Ultra Super Critical Coal-Fired Power Project (6th tranche):This
project is being implemented to meet growing electricity demand and to
improve stable power supply by installing 1200 MW (600MWx2 units) Ultra Super
Critical Coal-Fired Power Plant at Matarbari Area of Maheshkhali upazila
under Cox’s Bazaar district. Power transmission line, access road, township
development, channel for Matarbari Port works are also going on under this
project. Total cost of project is Taka 35,984.46 crore (GOB Taka 4,926.66 cr
+JICA Taka 28,939.03cr + CPGCBL Taka 2,118.77 cr.).

Project implementation period is July 2014 to June 2023. Up to October
2021, physical progress of the project is 49% and financial progress is 51%.
JICA is providing assistance for this project in different phases. JICA has
already provided 300,502 million JPY ($2.63 Billion) in 5 tranches. Under
this 6th tranche of ODA Loan for this project, JICA will provide 137,252
million JPY ($1.20 Billion).

Dhaka Mass Rapid Transit Development Project (Line 1) (2nd tranche):31.241
km long MRT Line-1 has two routes: (a) Airport Route (Airport to Kamlapur)
and (b) Purbachal Route (Notun Bazar to Pitalganj). The 19.872 Kilometre long
underground Airport Route will have 12 Stations. This portion will be the
first underground rail route of the country.

The Notun Bazar Station will have an inter-connection with the MRT Line-5.
The 11.369 kilometer long Purbachal Route of MRT Line-1 will have 9 stations.
The detail study, survey and basic design have been completed for both the
routes. Now detailed design is going on. The total estimated cost is of the
project is Taka 52,561.43 crore (GOB Taka 13,111.11 cr +JICA Taka
39,450.32cr) and implementation period is September 2019 to December 2026.

JICA is providing assistance in different phases to implement this
project. Earlier JICA has provided 5,593 million JPY ($49.06Million) for
Engineering Services and 52,570 million JPY($461.16 Million) for
Construction. Under 2nd tranche of this ODA Loan, JICA will provide 115,027
million JPY ($1.10 Billion).

COVID-19 Crisis Response Emergency Support Loan Phase 2: The objectives of
the Program are to realize resilient health system through concessional
financing by supporting smooth implementation of the policies to strengthen
COVID-19 response capacity in health sector, to enhance economic and physical
access to health services towards the achievement of Universal Health
Coverage and to improve health finance thereby contributing to promotion the
economic stabilization and development efforts of the country.

Bangladesh is going to get such budget support of 40 Billion JPY ($365
million) with interest rate 0.55%, Front End Fee (at a time)0.2%, repayment
period is 30 years which includes 10 years grace period. Finance Division is
the executing Ministry for budget support and Ministry of Health and Family
Welfare will implement policy actions under the loan.

Earlier Japan provided 35 billion JPY ($320 million) as budget support in
the year 2020 to support Bangladesh’s countercyclical expenditure plan to
combat the impact of COVID-19 pandemic.

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