Agreements signed with Japan for two projects

Economic Relations Division (ERD) today signed exchange notes and loan agreement with Japan for two projects under 45th Japanese ODA loan Package.

The projects are-Jamuna Railway Bridge Construction Project (3rd Tranche) and Chattogram Sewerage System Development Project (Engineering Service).

ERD secretary Shahriar Kader Siddiky signed the instruments on behalf of Bangladesh while Japanese ambassador in Bangladesh Iwama Kiminori and Chief Representative of JICA Bangladesh Office Ichiguchi Tomohide respectively signed the 'Exchange of Notes and 'Loan Agreements' on behalf of Japan.

The signing ceremony was held at National Economic Council (NEC) conference room at city’s Sher-E-Bangla Nagar, said an ERD press release.

Under this Japanese ODA loan, Japan will provide a total of 39,902 million Japanese Yen (approximately $248.88 million) for the two projects.

The rate of interest for this tranche is 1.70% for construction, 0.40% for consultancy services, Front End Fee 0.2%, and repayment period will be 30 years which includes 10 years grace period.

Japan, the largest bilateral development partner of Bangladesh, has been providing continuous support for the socio-economic development of Bangladesh since its independence.