KMA Hasnath: As a part of accelerating potential economic growth, Japan will give a total of 178.223 billion yen (about US$1.59 billion) to Bangladesh as Official Development Assistance (ODA) loans for six infrastructure projects. The loan amount stands approximately TK 13,000 crore.
The Japan International Cooperation Agency (JICA) signed loan agreements with Bangladesh for the loan package on June 29.
An official of Economic Relations Division (ERD) of finance ministry told risingbd.com on Sunday that Japan is our development partner for a protracted period. Many big projects are being implemented in the country with the finance from Japan. Loan agreements for six infrastructure projects have been signed with Japan on June 29.
The six projects are-(1) Hazrat Shahjalal International Airport Expansion Project (I) (loan amount: 76.825 billion yen), (2) The Kanchpur, Meghna and Gumti 2nd Bridges Construction and Existing Bridges Rehabilitation Project (II) (loan amount: 52.73 billion yen), (3) Dhaka Mass Rapid Transit Development Project (Line 1) (E/S) (loan amount: 5.593 billion yen), (4) Matarbari Ultra Super Critical Coal-Fired Power Project (III) (loan amount: 10.745 billion yen), (5) Dhaka Underground Substation Construction Project (loan amount: 20.477 billion yen) and (6) Small Scale Water Resources Development Project (Phase 2) (loan amount: 11.853 billion yen).
Bangladesh is one of the most populous countries in the world and it has continued to grow at an average pace of six percent per annum due to the development of sewing and other ready-made garment related industries.
In the national "7th Five-Year Plan (2016-2020)," the government of Bangladesh establishes the goal ("Vision 2021") of achieving middle-income status as a country by 2021. JICA will continue to support efforts in Bangladesh to address challenges toward further economic growth and overcome social vulnerability.
Hazrat Shahjalal International Airport Expansion Project (1) will be implemented to improve airport capacity, convenience and safety, by constructing a new international passenger terminal, cargo terminal and other infrastructure and facilities, thereby contributing to further economic growth in Bangladesh. Construction of the second new Kanchpur, Meghna and Gumti bridges adjacent to the existing bridges on Dhaka-Chittagong National Highway No. 1 will strengthen the capacity and the efficiency of transport and improve the safety of bridges.
Dhaka Mass Rapid Transit Development Project (Line 1) (E/S) will help alleviate the traffic congestion and mitigate the air pollution in Dhaka. The loan will be for the engineering services (E/S) required for the study, design and tender stages of the project.
Matarbari Ultra Super Critical Coal-Fired Power Project (III) will counter the rising demand for power while mitigating greenhouse gas emissions in Bangladesh. It will be the first ultra-supercritical coal-fired power plant (capable of producing 1,200 megawatts of power in total) in Bangladesh, a JICA press release said.
Under Dhaka Underground Substation Construction Project, two underground substations will be constructed in Dhaka, the first in Bangladesh, which will improve the electric supply reliability and the balance between the electric power supply and demand, the press release added.
risingbd/DHAKA/July 2, 2017/Hasnath/Amirul