Japan’s 42nd ODA Yen Loan (2nd Batch) Signed Today
2022/3/29
On 29 March, 2022, H.E. Mr. ITO Naoki, Ambassador of Japan to Bangladesh and Ms. Fatima Yasmin, Secretary, Economic Relations Division, Ministry of Finance signed Exchange of Notes of the 42nd Official Development Assistance (ODA) Yen Loan of Japan to Bangladesh.
The second batch of the 42nd Yen Loan amounts to 18,285 million yen, and the total amount with the first batch is 271,064 million yen (approximately USD 2.36 Billion).
Based on this agreement between the two counties, Mr. HAYAKAWA Yuho, Chief Representative of JICA Bangladesh Office and Ms. Fatima Yasmin signed a relevant loan agreement.
"I’m pleased to be able to sign the Exchange of Notes with regard to 42nd Japanese Yen Loan Package today. The 2nd batch of 42nd Yen Loan of this time will cover the last 1km of the Metro Line 6 extended from Motijir Station to Kamalpur Station,. This year marks the 50th anniversary of the establishment of diplomatic relations between Japan and Bangladesh. The MRT symbolizes the changing face of Dhaka and the friendship between Japan and Bangladesh." said Ambassador ITO at the signing ceremony.
Japan has been the single largest bilateral donor for Bangladesh since 2012, and the total amount of its aid as Yen Loan has reached USD 24.36 billion (commitment base).
After the above signing ceremony, a commencement ceremony for two technical cooperation projects were also held. One project aims to enhance fisheries livelihood of local people in Cox’s Bazar including “Rohingya” host communities, and the other project plans to supply safe water through capacity building of DPHE (Department of Public Health Engineering) staff nationwide.
For detail, please see the appendix.
a) Objective and Summary
This project is to construct an urban rapid transit line (MRT Line 6), a track-based mass transit system, in Dhaka to meet the transportation demand in the Dhaka metropolitan area, thereby contributing to the economic development of Bangladesh as a whole and improving the urban environment through reducing traffic congestion.
b) Executing Agency
Dhaka Mass Transit Company Limited
Address: 71-72 Old Elephant Road, Eskaton Garden, Dhaka-1000, Bangladesh
Phone: +880-2-55138099, FAX: +880-2-9353507
c) Planned Implementation Schedule
The second batch of the 42nd Yen Loan amounts to 18,285 million yen, and the total amount with the first batch is 271,064 million yen (approximately USD 2.36 Billion).
Based on this agreement between the two counties, Mr. HAYAKAWA Yuho, Chief Representative of JICA Bangladesh Office and Ms. Fatima Yasmin signed a relevant loan agreement.
"I’m pleased to be able to sign the Exchange of Notes with regard to 42nd Japanese Yen Loan Package today. The 2nd batch of 42nd Yen Loan of this time will cover the last 1km of the Metro Line 6 extended from Motijir Station to Kamalpur Station,. This year marks the 50th anniversary of the establishment of diplomatic relations between Japan and Bangladesh. The MRT symbolizes the changing face of Dhaka and the friendship between Japan and Bangladesh." said Ambassador ITO at the signing ceremony.
Japan has been the single largest bilateral donor for Bangladesh since 2012, and the total amount of its aid as Yen Loan has reached USD 24.36 billion (commitment base).
After the above signing ceremony, a commencement ceremony for two technical cooperation projects were also held. One project aims to enhance fisheries livelihood of local people in Cox’s Bazar including “Rohingya” host communities, and the other project plans to supply safe water through capacity building of DPHE (Department of Public Health Engineering) staff nationwide.
- The 42nd Exchange of Notes covers the following projects:
- Dhaka Mass Rapid Transit Development Project (V) (loan amount: 18,285 million yen)
- Interest Rate: 0.70 % per annum (The part concerning payments to consultants: 0.01% per annum)
- Repayment period: Twenty years after the grace period of ten years
For detail, please see the appendix.
Appendix
Summary of each project
a) Objective and Summary
This project is to construct an urban rapid transit line (MRT Line 6), a track-based mass transit system, in Dhaka to meet the transportation demand in the Dhaka metropolitan area, thereby contributing to the economic development of Bangladesh as a whole and improving the urban environment through reducing traffic congestion.
b) Executing Agency
Dhaka Mass Transit Company Limited
Address: 71-72 Old Elephant Road, Eskaton Garden, Dhaka-1000, Bangladesh
Phone: +880-2-55138099, FAX: +880-2-9353507
c) Planned Implementation Schedule
- Completion of project: December 2026 – when the facilities are put into service
- Issuing of letters of invitation for consulting services (including detailed design work): Already hired
- Tender announcement of initial procurement package for international competitive bidding on project construction: Already contracted
Terms and Amounts of Loans
| Amount (million yen) |
Annual interest rate (%) | Repayment period (years) | Grace period (years) | Procurement | ||
| Project | Consulting services | |||||
| Dhaka Mass Rapid Transit Development Project (V) | 18,285 | 0.70 | 0.01 | 30 | 10 | General untied |