Bangladesh eyes major projects with South Korean financing: Adviser Salehuddin
Korea is one of our important development partners, and their quality and standard of work are very high. he says
The interim government is exploring large-scale projects with financing from South Korea, a key development partner for Bangladesh, Finance Adviser Salehuddin Ahmed said today (22 September).
The statement came after a meeting with Korean Ambassador to Bangladesh Park Young Sik at the Ministry of Finance in the Secretariat.
"Korea is one of our important development partners, and their quality and standard of work are very high," Salehuddin noted.
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He highlighted the favourable terms of Korean loans, which carry a 0.5% interest rate and a repayment period of up to 40 years, describing them as "one of the softest loans" available to Bangladesh.
Salehuddin also praised Korea's commitment to transparency and competitiveness, noting that most of their projects are awarded through international bidding processes.
Later in the day, the adviser met with Dr Valantine Achancho, country director of the International Fund for Agricultural Development (IFAD) in Bangladesh. He praised IFAD's long-standing contributions to agricultural and microfinance projects in the country.
"IFAD has many ongoing projects in Bangladesh and will introduce more in the future," Salehuddin said, adding that their discussions focused on post-flood rehabilitation efforts.
"IFAD has assured us of their support for necessary rehabilitation after the recent floods," he added.
