Japan, Bangladesh sign $2.5 billion agreement

Japan and Bangladesh on Wednesday signed a $2.5 billion Official Development Assistance (ODA) agreement with an aim to assist some big infrastructural projects in Bangladesh.

Bangladeshi Prime Minister Sheikh Hasina and her Japanese counterpart Shinzo Abe witnessed the signing of the deal at the latter’s office in Tokyo, according to local news agency United News of Bangladesh.

The 40th ODA will assist Matarbari Port Development Project (1), Dhaka Mass Rapid Transit Development Project (Line 1), Foreign Direct Investment Promotion Project (II), Energy Efficiency and Conservation Promotion Financing Project (Phase 2) and Matarbari Ultra Super Critical Coal-Fired Power Project (V), the news agency said.

Since 1972, Japan has provided Bangladesh some $11.3 billion in ODA loans.