Japanese ODA Loan to Bangladesh

February 25, 2008

The Government of Japan has decided to provide a Japanese ODA loan of up to 6,960 million yen to the Government of the People’s Republic of Bangladesh for implementing the “Emergency Disaster Damage Rehabilitation Project.” Notes to this effect were exchanged on February 25 (Mon.) in Tokyo between Mr. Masahiko Koumura, Minister for Foreign Affairs, and Dr. Iftekhar Ahmed Chowdhury, Adviser for Foreign Affairs of Bangladesh.
Outline of the Project
In Bangladesh, flooding occurred twice in the period July-September last year. In November, Cyclone “Sidr” also hit the southwestern part of the country, causing immense damage. In response to the damage, Japan provided emergency assistance in kind worth 35 million yen and emergency grant aid equivalent to 426 million yen. In addition to these, this Japanese ODA loan, in cooperation with the Asian Development Bank (ADB), will enable the rehabilitation of such infrastructures as roads and dikes devastated by the disasters and provide funding necessary to import goods to recover livelihood of the displaced.

(1) Interest rate: 0.01% per annum

(2) Repayment period: 40 years (including 10-year grace period)

(3) Procurement method: general untied

(END)