Japan’s 44th ODA Yen Loan (3rd Batch) Signed Today

On 24 December 2023, H.E. Mr. IWAMA Kiminori, Ambassador of Japan to Bangladesh and Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance signed the Exchange of Notes of the 44rh Official Development Assistance (ODA) Yen Loan of Japan to Bangladesh.

The third installment of the 44th Japanese Yen Loan Package is 76,635 million yen (approximately USD 540 million). Since the first round was 30,000 million yen and the second round was 217,556 million yen, the total amount of the 44th round of yen loans is 324,191 million yen (approximately USD 2.21 billion).

Based on this agreement between the two counties, Mr. YOSHIDA Hiroshi, Senior Representative of JICA Bangladesh Office and Mr. Shariar Siddiky signed a relevant Loan Agreements.

The installment will be used for constructing Dhaka's Hazrat Shahjalal International Airport Third International Passenger Terminal, a Cargo Terminal, and associated facilities. The goal is to meet rising aviation demands, expand airport capacity, improve accessibility, and fortify security, contributing significantly to Bangladesh's economic growth. The expanded airport will play a pivotal role in enhancing the connectivity in the region.

At the recent Third Terminal soft opening, Honorable Prime Minister Hasina welcomed Japanese companies' involvement. Intensive discussions are ongoing now between Japanese consortium and airport authorities. Japan remains dedicated to supporting Bangladesh's development through a strategic partnership, fostering mutual prosperity.

 The 44rd Exchange of Notes covers the following projects:

(1) Hazrat Shahjalal International Airport Expansion Project (III) (loan amount: 76,635 million yen)

 Interest Rate: 1.30 % per annum (The part concerning payments to consultants: 0.2% per annum)

 Repayment Period: twenty (20) years after the grace period of ten (10) years