Japan to provide $1.063 billion for Bangladesh budget assistance, railways

TOKYO, May 30: Japan and Bangladesh exchanged notes under which Tokyo will provide $1.063 billion to Dhaka as budget support, railway upgradation and grants.

Of the total, Japan will provide 418 million dollars as Development Policy Loan for Bangladesh’s economic reforms and climate resilience.

Tokyo will also lend 641 million dollars for upgradation of Joydevpur-Ishwardi into a dual-gauge double railway track and another 4.2 million dollars as grants for scholarships.

Three exchange of notes were signed later in the day, respectively on the Development Policy Loan for Economic Reform and Strengthening Climate Change Resilience(418 million USD), the Loan for the Joydebpur-Ishwardi dual-gauge double-lane railway project (641 million USD) and the grant for the human development scholarship (4.2 million USD).

Bangladesh ambassador to Japan Md Daud Ali and Japanese ambassador to Bangladesh Shinichi Saida signed the agreement on behalf of the respective countries.

Chief Adviser Professor Muhammad Yunus witnessed the signing of the exchange of notes.