$600m budget support from Japan likely

Japan is likely to provide $600 million to the country as budget support, Planning Minister MA Mannan said on Monday.

The minister made the statement after a meeting with the outgoing Japan International Cooperation Agency (JICA) Country Director Yuho Hayakawa and his replacement Ichiguchi Tomohide held at the planning minister’s office in the capital’s Sher-e-Bangla Nagar on Monday.

However, the terms and conditions of the budget support will be finalised following discussion between both sides, he added.

“Mainly, the Economic Relations Division (ERD) will work on getting the budget support. I discussed about the budget support with JICA as I represent a ministry. The matter is in discussion stage. The atmosphere is very positive. JICA is likely to give $600-700 million budget support to Bangladesh,” he also said.

The planning minister said JICA were positive regarding the matter and would work at the highest level about it.

“JICA is funding the economic zone in Araihazar and Matarbari coal fired power plant,” Mannan said.

JICA is willing to fund rural infrastructure as the government are more interested in the sector, he added.

JICA’s outgoing Country Director Yuho Hayakawa said, “I worked in Bangladesh for three years. I have worked closely with Bangladesh in various sectors. Bangladesh’s achievements are truly amazing.”

“Working for a long time in the country, we feel that Bangladesh is doing well in all sectors. Bangladesh’s achievements in various sectors, including dealing with the Corona crisis, were amazing,” he added. JICA’s new Chief Representative in Bangladesh Ichiguchi Tomohide said, “I have been working with Bangladesh since last 10 years. I have worked in various mega projects of Bangladesh. I have contributed to many important projects such as Metrorail, Meghna-Gomti-Kanchpur Bridge, Matarbari Coal Power Plant and others.”

Bangladesh received $656 million budget support from JICA in the last two fiscal years to recover from the Covid-19 pandemic.