S Korea to give $700m dev loan to BD between 2021-2025

Business Desk :
South Korea has decided to provide $700 million development cooperation loan to Bangladesh between 2021 and 2025.
South Korean Ambassador to Bangladesh, Lee Jang-keun, shared the decision with Economic Relations Division (ERD) Secretary Fatima Yasmin at the ODA Projects Review Meeting held virtually on Tuesday, according to a statement of the embassy.
The two governments have been discussing this plan since last year and, upon the completion of necessary domestic procedures, will sign a Framework Agreement, which contains detailed conditions and the list of potential projects to be considered.
At the meeting, the Korean Embassy and Bangladesh ERD reviewed a number of other ongoing and new development assistance projects between the two governments, including those under implementation through Korea International Cooperation Agency (KOICA).
Bangladesh is a priority development partner of South Korea and the second-largest recipient of Korea’s EDCF loan.
Korea has provided $1.24 billion Economic Development Cooperation Fund (EDCF) loan and $172 million in grants through KOICA since 1991 in various sectors, including public administration, vocational training and education, transport, ICT-based communication, public administration, water management, and public health.