BD gets 2nd highest JICA ODA loan in past fiscal
FE REPORT | Monday, 29 May 2023
The Japan International Cooperation Agency (JICA) has shown a strong commitment to Bangladesh by allocating pledging and allocating a hefty sum of 331 billion Japanese Yen for five key projects during the Japanese Fiscal Year 2022.
The amount is equivalent to Tk 251.56 billion, while the Japanese FY22 spans from April 2022 to March 2023.
This marks the second-highest level of support since JICA's ODA loan initiatives began in March 1974, as mentioned in a JICA press release issued on Sunday.
Official development assistance, or ODA, is defined as government aid designed to promote the economic development and welfare of developing countries. Such aids include grants, soft loans and the provision of technical assistance.
According to the JICA press release, Bangladesh was the fortunate recipient of the largest amount of ODA from JICA, receiving the highest ODA of 373 billion Japanese Yen during the 2020 fiscal year.
In FY22, JICA disbursed 261 billion Yen, slightly below the disbursement of 264 billion Japanese Yen made during FY21.
The latest total commitment of ODA loan in Bangladesh consists of the five key projects - Dhaka Mass Rapid Transit Development Project (Line 5 Northern Route), Southern Chattogram Regional Development Project , Matarbari Port Development Project, Chattogram-Cox's Bazar Highway Improvement Project and Project for the Construction of Dual Gauge Double Line between Joydebpur - Ishwardi.
The record ODA can be attributed to the steady progress of the ongoing mega projects. This solidifies JICA's long-standing history of cooperation with Bangladesh, the JICA said in the press release.
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 years, JICA aims to continue working with Bangladesh to realize its development agenda, said a media release on Sunday.
smunima@yahoo.com