Japan to support Bangladesh for quality infrastructure: Envoy

Japanese Ambassador to Bangladesh Ito Naoki on Monday said his country will continue to cooperate with Bangladesh for quality infrastructure development and support its Covid-19 efforts.

He also said the Japanese government revised the travel warning of Dhaka to level- 1 on 10 November, and it is expected that the number of visitors from Japan will increase and bilateral business partnerships will grow further.

With the 50th anniversary of the establishment of diplomatic relations coming up next year, more people to people exchange will be accelerated, Ito said.

The Japanese ambassador and Fatima Yasmin, secretary at the Economic Relations Division of the Ministry of Finance, signed the exchange of notes of the 42nd Official Development Assistance (ODA) and the Covid-19 Crisis Response Emergency Support Loan (Phase 2) ODA of Japan to Bangladesh.

Finance Minister AHM Mustafa Kamal also joined the ceremony virtually.

This year's 42nd loan package comprises assistance of two projects amounting to $2.21 billion.

Also, the Covid-19 Crisis Response Emergency Support Loan, which was first granted to Bangladesh last year, has been extended again this year as Phase 2 ($351 million) with very favourable terms – 0.55 per cent interest rate.

Based on this agreement between the two counties, Hayakawa Yuho, chief representative of the Japan International Cooperation Agency, and Fatima signed a relevant loan agreement.

The 42nd package ($2.21 billion) and Budget Support ($351 million) will help Bangladesh achieve its aim of becoming a middle-income country and to conquer the Covid-19 pandemic, said the embassy.

Japan has been the single largest bilateral donor for Bangladesh since 2012, and the total amount of its aid as yen loan has reached $24.21 billion.