Home Business Japan will pay 520 million dollars for the expansion of the airport

Japan will pay 520 million dollars for the expansion of the airport

by Afonso
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Hazrat Shahjalal International Airport Expansion Project 3rd Phase Loan Agreement Signed. Through this, Bangladesh will get 517.27 million or 517.2 million dollars from Japan.

Bangladesh Government Economic Relations Department Secretary Shahriar Quader Chiddiki signed the promissory note and loan agreement on Sunday. Iwama Kiminori, Bangladesh Ambassador on behalf of Japan and Hiroshi Yoshida, senior representative of JICA, signed the note and loan agreement.

According to the agreement, the Japanese government will provide 76 thousand 635 million Japanese yen (approximately 517.27 million US dollars) loan assistance to Bangladesh. The annual interest rate on the signed loan is fixed at 1.30 percent for construction works and 0.20 percent for consulting services. This loan has to be repaid in 30 years with a grace period of 10 years.

Out of this, the total expenditure for the expansion of Shahjalal International Airport is Tk 21 thousand 400 crore, of which Tk 5,258.0388 crore will come from GOB and Tk 16,141.0245 crore will be given by JICA.

The project duration is from July 2016 to June 2025. Actual physical progress of the project is 90 percent as of November 2023. It should be noted that JICA is providing loan assistance in stages in this project; Previously, a loan agreement of 1 lakh 56 thousand 825 million Japanese yen has been signed in 2 phases.

It should be noted that Japan is the biggest development partner country of Bangladesh.


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