JICA inked Tk 2,273cr budgetary support deal with govt

block

Staff Reporter :
Japan International Cooperation Agency (JICA) will provide an Official Development Assistance loan of Tk 2,273 crore (equivalent to JPY 3,000 crore) to the government as budgetary support for strengthening public financial management.
The Japan International Cooperation Agency (JICA) and the Economic Relations Division (ERD) on Tuesday signed the loan agreement at the NEC-2 Conference Room in capital’s Sher-e-Bangla Nagar.
Secretary of the Economic Relations Division, Sharifa Khan, and Chief Representative of JICA Bangladesh, Ichiguchi Tomohide, signed the agreement in the presence of Japanese Ambassador to Bangladesh, Iwama Kiminori, said a press release.

The loan comes with an annual interest rate of 1.6 per cent along a 30-year repayment period, including a 10-year grace period. Aimed toward the economic recovery of Bangladesh, it is to be disbursed quickly, it said.
Over the years, Japan has remained Bangladesh’s largest bilateral development partner.
Chief Representative of JICA Bangladesh, Ichiguchi Tomohide, said, “The signing of this loan agreement is crucial to support economic recovery, sustainable and inclusive growth for the people of Bangladesh. The fund will help in meeting the government’s budgetary needs, prop up foreign exchange reserves and give impetus to the reform plans.”
Japanese ambassador to Bangladesh, Iwama Kiminori, was present?at the event.