Debt-Relief Measure in the Form of Cancellation for Bangladesh

August 26, 2008

The Government of Japan has agreed with the Government of the People’s Republic of Bangladesh to cancel the Japanese ODA which the Government of Bangladesh owes to the Japan Bank for International Cooperation (JBIC) as a debt-relief measure in the form of debt cancellation. Notes to this effect were exchanged on August 26 (Tue) in Dhaka between Mr. Masayuki Inoue, Japanese Ambassador to Bangladesh, and Mr. Md. Aminul Islam Bhuiyan, Secretary, Economic Relations Division, Ministry of Finance of Bangladesh.
Content of the debt-relief measure in the form of debt cancellation:

(1) Debts to be covered:

Part of the debts that the Government of the People’s Republic of Bangladesh owes to the JBIC

(2) Total amount of the debt to be cancelled:

About 73,861,500,000 yen

In this debt-relief measure, Japan renounces JBIC’s claims to Japanese ODA loan in accordance with the 1978 resolution of the Trade and Development Board (TDB) in the UN Conference on Trade and Development (UNCTAD).

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