Friday | 10 January 2025 | Reg No- 06
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Friday | 10 January 2025 | Epaper

JICA to provide Tk 3,147cr ODA loan for 2 BD projects

Published : Wednesday, 27 November, 2024 at 12:00 AM  Count : 418
Business Correspondent
Japan International Cooperation Agency (JICA) will provide Japanese ODA (Official Development Assistance) loans of up to a total of 39,902 million yen (equivalent to Tk 3,147 crore) for two Bangladesh projects under an agreement signed with the government on Monday.

The projects are the Jamuna Railway Bridge Construction (III) and Chattogram Sewerage System Development Project (Engineering Service). The signing ceremony took place at the Economic Relations Division (ERD) at Sher-E-Bangla Nagar, in Dhaka.

JICA Bangladesh Office Chief Representative Ichiguchi Tomohide and ERD Secretary Md. Shahriar Kader Siddiky signed the agreement on behalf of the respective sides in presence of Ambassador of Japan to Bangladesh Iwama Kiminori.

Of the total amount 39,902 million yen committed through the two loan agreements, 38,206 million yen is allocated for the Jamuna Railway Bridge Construction Project (III) and 1,696 million yen for the Chattogram Sewerage System Development Project (Engineering Service), says a press release.

The loan agreement signed for Jamuna Railway Bridge (III) is for the third tranche of the loan. The picturesque 4.8 km dedicated railway bridge runs over the Jamuna River parallel to the existing Jamuna Multipurpose Bridge.  The Bridge is expected to start its operation in early 2025 and will boost rail connectivity between the Eastern and Western zones of the country. The project has adopted cutting-edge technology for long-term sustainability and reduction of recurrent operation and maintenance costs. The loan's annual interest rate is 1.7 percent for the construction portion and 0.40 percent for consulting services, with a 30-year repayment period including a 10-year grace period.

The Chattogram Sewerage System Development Project will focus on Catchment 2 and Catchment 4 (Kalurghat and East Bakalia) out of a total of six catchments. It's the first phase of the project and will support the detailed design of the entire sewerage system. 

The development of the sewerage system will contribute to several key Sustainable Development Goals (SDGs) by promoting public health, environmental sustainability, and economic growth in Chattogram. 

The project will adopt the advanced technology for wastewater treatment process to effectively remove nitrogen and phosphorous from wastewater and prevent water pollution. The loan's annual interest rate is 0.20 percent for consulting services, with a 30-year repayment period, including a 10-year grace period.

During the signing ceremony, Ichiguchi Tomohide, emphasized: "I hope our contribution will help our dear colleagues of Bangladesh Government who are working very hard to create a better Bangladesh."

ERD Secretary thanked the people of Japan for their generous support to the people of Bangladesh.



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