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Chief Representative's Speech

June 16, 2014

Closing Remark 35th ODA Loan Signing Ceremony

Photo

His Excellency Mr. Abul Maal Abdul Muhith, Honorable Finance Minister,

His Excellency Mr. Nasrul Hamid, Honorable State Minister for Power, Energy and Mineral Resources,

His Excellency Mr. Hiroyuki Minami, Hon'ble Chargés d'affaires ad interim, Embassy of Japan,

His Excellency Dr. Akihiko Tanaka, President of JICA

Mr. Mohammad Mejbahuddin, Secretary, Economic Relations Division, Ministry of Finance,

Distinguished Guests,

Ladies and Gentlemen.

Assalam alaikum

As a closing remark, I would like to briefly touch upon the four projects under the 35th ODA loan package other than Martarbari Ultra Super Critical Coal-Fired Power Project which Dr. Tanaka, our President introduced in detail.

Natural Gas Efficiency Project will install the first-ever wellhead gas compressors in two gas fields to prolong gas production by 30% and will also connect the gas-shortage Western zone to the gas transmission network. To improve demand side management, this project will introduce pre-paid gas meters for 2.6 lakh households in Dhaka and Chittagong.

Inclusive City Governance Project will support comprehensive development of five City Corporations through governance reform, city planning and infrastructure construction. Through a performance-based fund allocation, those urban governments which demonstrate improvement in governance and financial management will get rewarded with more funds for sub-projects.

Haor Flood Management and Livelihood Improvement Project will rehabilitate and construct flood management facilities and infrastructures to mitigate flash-flood risk and improve livelihood of vulnerable people in the Northeastern Haor area. The project will save 1 billion taka Boro crops from flash flood every year, benefitting 7 million farmers and fishermen.

Finally, Small and Marginal Sized Farmers Agricultural Productivity Improvement and Diversification Financing Project. The project will finance agricultural loans and agricultural trainings through microfinance institutions to increase productivity and diversity of small and marginal farmers. 5 lakh farmers will benefit, and more than half of them are to be female farmers.

In total, the 35th ODA Loan Package amounts to 121 billion Japanese Yen, equivalent to around 1.2 billion US Dollar; this is the largest ever annual loan commitment of JICA to Bangladesh.

Thank you.

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