Japan's 43rd ODA Yen Loan and Grant Aid signed

The first batch of the 43nd Yen Loan amounts to 165.861 billion yen (approximately USD 1.23 Billion) and Grant Aid is to provide additional grant for the costs of ‘the Project for Improvement of Meteorological Radar System in Dhaka and Rangpur’, which is incurred due to the Covid-19 circumstances.

Based on this agreement between the two counties, Hayakawa Yuho, Chief Representative of JICA Bangladesh Office and Fatima Yasmin signed a relevant Loan Agreement and Grant Agreement, said a press release on Wednesday (June 29).  

“I’m pleased to be able to sign the Exchange of Notes with regard to 43nd Japanese Yen Loan Package today. The first batch of the 43rd round of yen loans includes two projects in the package. One is to develop roads, drainage and water supply facilities, agriculture-related facilities, and waste management facilities in the southern Chattogram area,” said Ambassador ITO at the signing ceremony.

The Ambassador added: “The other is the northern route of MRT Line 5, which connects Dhaka's MRT transportation network in an east-west direction, will be developed to improve the functioning of the urban transportation network. With the additional Grant Aid, the Japanese companies involved can proceed and complete the construction work hopefully by 2025. I am sure today’s signings have shown further willingness of the Japanese people to contribute to the fast and sustainable growth of Bangladesh."

Japan has been the single largest bilateral donor for Bangladesh since 2012, and the total amount of its aid as Yen Loan has reached USD 25.59 billion (commitment base).

This is the project to construct meteorological radar and related facilities in Joydebpur and Rangpur. The original grant up to 2.881 billion yen is amended up to 3.009 billion yen by adding 128 million yen in this time.