The government of Japan will provide US$ 3.2 billon to Bangladesh to implement seven development projects.
Secretary of Economic Relations Division Fatima Yasmin and Chief Representative of JICA Bangladesh Office, Hayakawa Yuho on Wednesday signed the Official Development Assistance (ODA) loan on behalf their respective countries.

Japan Ambassador Itonaoki and senior ERD official were also present at the ceremony.
The signing ceremony was held at the National Economic Council Conference room in the city's Sher-e-Bangla Nagar.

The loan will be for the seven mega projects - Bangabandhu Sheikh Mujib Railway Bridge on Jamuna River, Hazrat Shahjalal International Airport Expansion Project, Dhaka Mass Rapid Transit Development Project, Dhaka Mass Rapid Transit Development Project (Line 5 Northern Route), Chattogram -    Cox's Bazar Highway Improvement Project (E/S), Food Value Chain Improvement Project and Urban Development and City Governance Project
Hayakawa Yuho said, "Despite Covid-19 pandemic, these projects are moving forward to benefit the people of Bangladesh at the earliest time.

Under this difficult situation, construction work is ongoing for MRT Line 6, construction for Hazrat Shahjalal International Airport Terminal 3 began in April, construction contracts for Railway Bridge were signed also on April, and design consultancy contract for MRT Line 5 was signed on June."
Japan is the Bangladesh's largest Bilateral Development Partner. This financial assistance is provided in the form of concessional loans, Hayakawa Yuho said.

The government will repay the loan within the next 30 years while 10 years will be the grace period.
Japan has provided approximately USD 13 million as the emergency support to tackle COVID-19 in Bangladesh through international organizations. It also provided PPE to hospitals through JICA.
On August 5, both countries signed Exchange of Notes of the COVID-19 Crisis Response Emergency Support Loan of US$ 331 million which is the first budget support from Japan to Bangladesh.