JICA committed to providing 331b yen to Bangladesh in FY22

Japan International Cooperation Agency (JICA) committed a total of 331 billion yen to five key projects in Bangladesh in Japanese fiscal year 2022.

The JICA has recently reported that during the Japanese FY22, spanning from April 2022 to March 2023, both its commitment and disbursement reached the second highest level since its ODA loan support in Bangladesh began in March 1974, said a press release on Sunday.

Among the five key projects, Dhaka Mass Rapid Transit Development Project (Line 5 Northern Route) (II) received a loan of 133,399 million yen; Southern Chattogram Regional Development Project got 32,462 million yen; Matarbari Port Development Project (II) 105.362 billion yen; Chattogram-Cox’s Bazar Highway Improvement Project (I) 55.729 billion yen; and Project for the Construction of Dual Gauge Double Line between Joydebpur–Ishwardi Section got 4.228 billion yen, according to the press release.

This extraordinary achievement follows JICA’s record maximum in Japanese FY2020, when the organisation reached the highest commitment of 373 billion Japanese Yen.

JICA’s disbursement in Japanese FY 2022 amounted to 261 billion yen, slightly below the 264 billion yen disbursement during Japanese FY 2021. The record setting feat of FY 2022 can be attributed to the steady progress of the ongoing mega projects.

Over the past decade, JICA has steadfastly expanded its collaboration with Bangladesh through ODA loans, grants, and technical cooperation schemes, effectively meeting the country's growing demand for a heightened economic and social infrastructure. In coming times, JICA aims to continue working with Bangladesh to realise its development agenda, said the press release.