Japan to provide ¥85,819m to Bangladesh
Business Desk:
The government of Japan will provide a total of 85,819 million Japanese Yen (approximately $582 million) to Bangladesh for two projects.
In this regard, ‘Exchange of Notes’ and ‘Loan Agreements’ for ‘Food Safety Testing Capacity Development Project’ and ‘Matarbari Ultra Super Critical Coal-Fired Power Project (VIII)’ under 45th Japanese ODA Loan Package (2nd batch) were signed on Tuesday between the governments of Bangladesh and Japan.
Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division (ERD), Ministry of Finance signed the ‘Exchange of Notes’ and the ‘Loan Agreements’ on behalf of the government of Bangladesh.
SAIDA Shinichi, Ambassador of Japan in Bangladesh, signed the ‘Exchange of Notes’ and ICHIGUCHI Tomohide, 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, said an ERD press release.
The release said to increase food safety testing capacity of Bangladesh Food Safety Authority, one reference laboratory, office and training center in Dhaka and two divisional laboratories in Chattogram and Khulna will be constructed under ‘Food Safety Testing Capacity Development Project’.
The total cost of the project is Taka 2409.70 crore (GoB Taka 390.78 Cr. JICA Loan Taka 2018.92 Cr). The implementation period is January 2025-December 2034.
Under this Japanese ODA loan package (2nd Batch), Japan will provide 28,699 million Japanese Yen (approximately $194 million) for the project.
The rate of interest of this loan will be in preferential term 1.85% for construction, 0.55% for consultancy services, Front End Fee (at a time) 0.20% and repayment period will be 30 years which includes 10 years grace period.
To meet the growing electricity demand and to improve the stable power supply of the country ‘Matarbari Ultra Super Critical Coal-Fired Power Project’ is being implemented at Matarbari Area of Maheshkhali Upazila under Cox’s Bazar district.