Desk Report
Publish: 29 Mar 2022, 10:29 pm
Metro Rail || Photo: Collected
"Exchange of Notes" and "Loan Agreement"
were signed today between Japan and Bangladesh for the 5th tranche of loans
worth 18,285 million Japanese Yen for financing the Dhaka Mass Rapid Transit Development
Project, Line 6 under 42nd ODA loan package (2nd batch).
Economic Relations Division (ERD) Secretary Fatima Yasmin
signed the "Exchange of Notes" and the "Loan Agreement" on
behalf of the government of Bangladesh while Japanese Ambassador to Dhaka ITO
Naoki signed the "Exchange of Notes" while Chief Representative, JICA
Bangladesh Office Yuho Hayakawa signed the "Loan Agreement" on behalf
of Japan.
Besides, Record for Discussions (R/D) for two technical
assistance projects were also signed between the two governments. The signing
ceremony was held at the NEC-2 of ERD in the city's Sher-e-Bangla Nagar area.
Under the 42nd ODA Loan Package (2nd batch), Japan will
provide 18,285 million Japanese Yen equivalent to Taka 1,350.39 crore for 5th
tranche of MRT line 6. The rate of interest of this loan will be 0.70 percent
for construction, 0.01 percent for consultancy service and Front End Fee will
be 0.2 percent at a time while the loan will be repaid in 30 years with a grace
period of 10 years.
The financing under technical cooperation assistance for two
projects will be provided as grants. These two projects are Fisheries
livelihood enhancement project in the coastal area of the Bay of Bengal and the
Project for the improvement of comprehensive management capacity of Department of
Public Health and Engineering (DPHE) on water supply (phase 2).
The projects being implemented by these loans and technical
assistance grants are as follows:
MRT Line 6: The objective of this project is to introduce
metro rail system from Uttara to Kamalapur. Dhaka Mass Transit Company Limited
under the Road Transport and Highways Division is implementing the project. The
overall average progress of this project is 76 percent.
However, progress of civil works from Uttara to Agargaon
part is 90 percent. As per the approved DPP, the total project cost is Taka
21,985.07 crore. However, the DPP may be revised due to the extension of line
from Motijheel to Kamalapur.
Earlier, JICA has provided 2,37,513 million Japanese Yen in 4
tranches. The loan amount for this 5th and last tranche is 18,285 million
Japanese Yen, which will be utilized mainly for the Motijheel to Kamalapur
extension.
As being the single largest bilateral development partner of
Bangladesh, the ODA commitment of Japan to Bangladesh till February 2022
exceeded to $27.432 billion while the disbursements to $17.459 billion.
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