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June 29, 2016

Signed the largest scale of Japanese ODA Loan Agreements for accommodating increasing demands in electric power and public transport and for pursuing disaster risk reduction

On June 29, the Japan International Cooperation Agency (JICA) signed Japanese ODA loan agreements with the Government of the People's Republic of Bangladesh to provide loans of up to a total of 173.538 billion yen for assistance for six projects.

Bangladesh, one of the most populous countries in the world with 160 million people, has continued to grow at average pace of 6% per annum due to the development of sewing and other ready-made garment related industries. In recent years, Bangladesh has attracted increasing attention from oversea enterprises including Japanese firms as an upcoming manufacture base and an investment destination.

However, compared with its rapid economic growth and urbanization, infrastructure including transport network and stable power supply is still in premature stage. To overcome these issues, JICA will finance 5 projects: "Dhaka Mass Rapid Transit Development Project (II)" will construct the first urban railroad system in Bangladesh to provide additional means of urban transport to people of Dhaka. "Cross-Border Road Network Improvement Project (Bangladesh)" will develop the economic corridors including Asian Highway Route. "Jamuna Railway Bridge Construction Project (E/S)" will build railway bridge as part of the Trans-Asian Railway." Matarbari Ultra Super Critical Coal-Fired Power Project (II)" will develop the highly efficient electric power source with low coal consumption. "Energy Efficiency and Conservation Promotion Financing Project" will promote the efficiency of power usage to expedite the introduction of more energy efficient machines and equipment to local companies and households.

Moreover, the establishment of disaster risk governance for disaster risk reduction is a very crucial issue for Bangladesh ranked as one of the most vulnerable countries to natural disasters. "The Disaster Risk Management Enhancement Project" will enhance the Bangladesh's comprehensive disaster risk management capacity. This is the Japanese ODA Loan project realizing the Sendai Framework for Disaster Risk Reduction.

Through these 6 projects, JICA will continue to support Bangladesh effort for further economic growth and overcoming of its social vulnerability.

For more information, please go to: http://www.jica.go.jp/english/news/press/2016/160629_01.html

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