Japan selects 3 main sectors for increased financial aid
Sunday, 22 July 2007
Shakhawat Hossain
Japan has selected three main sectors in Bangladesh for increased financial assistance over the next couple of years to help develop the country, official source said.
The sectors that have been identified relate to areas like information and communication technology, tourism, transport, power, agriculture and rural development.
Once the country's biggest bilateral donor that provided an average annual aid worth more than US $250 million throughout the 1900s, Japan has given priority to human security, education, health and environment with the aim to develop human resources in Bangladesh, sources added
For the assistance towards good governance, it has emphasised on the anti-corruption related projects in the next two fiscal years, said a senior official of economic relations division (ERD).
The official said the ERD has already asked the ministries and divisions to send specific projects to the Japan Overseas Cooperation Volunteers (JOCV).
The ERD officials see the Japanese gesture as a big opportunity to obtain increased assistance from it. They, however, emphasised on the capability of the ministries and division in preparation of the projects.
"Without the preparation of quality and convincing projects, it will be difficult to get the financial assistance," said an ERD official.
For the last three fiscals, the annual financial assistance from Japan to the country has come down to $50 million on an average. This has put Britain on the top as Bangladesh's bilateral donor.
The UK provided $ 111 million on average between fiscal 2003-04 and 2005-06.
The ERD officials expressed the hope that Japan would also increase its financial assistance like other donor countries and agencies.
According to the ERD officials, most of the donor countries and agencies have increased aid commitment by nearly 25 per cent in the just concluded fiscal.
The multilateral lending agencies and donor countries have committed $2.24 billion during the period compared to $1.78 billion in fiscal 2005-2006.
The surge in aid commitment has been attributed to confidence of the donor agencies and countries to the present caretaker government and its reform programme, especially its anti-corruption drives.
Japan has selected three main sectors in Bangladesh for increased financial assistance over the next couple of years to help develop the country, official source said.
The sectors that have been identified relate to areas like information and communication technology, tourism, transport, power, agriculture and rural development.
Once the country's biggest bilateral donor that provided an average annual aid worth more than US $250 million throughout the 1900s, Japan has given priority to human security, education, health and environment with the aim to develop human resources in Bangladesh, sources added
For the assistance towards good governance, it has emphasised on the anti-corruption related projects in the next two fiscal years, said a senior official of economic relations division (ERD).
The official said the ERD has already asked the ministries and divisions to send specific projects to the Japan Overseas Cooperation Volunteers (JOCV).
The ERD officials see the Japanese gesture as a big opportunity to obtain increased assistance from it. They, however, emphasised on the capability of the ministries and division in preparation of the projects.
"Without the preparation of quality and convincing projects, it will be difficult to get the financial assistance," said an ERD official.
For the last three fiscals, the annual financial assistance from Japan to the country has come down to $50 million on an average. This has put Britain on the top as Bangladesh's bilateral donor.
The UK provided $ 111 million on average between fiscal 2003-04 and 2005-06.
The ERD officials expressed the hope that Japan would also increase its financial assistance like other donor countries and agencies.
According to the ERD officials, most of the donor countries and agencies have increased aid commitment by nearly 25 per cent in the just concluded fiscal.
The multilateral lending agencies and donor countries have committed $2.24 billion during the period compared to $1.78 billion in fiscal 2005-2006.
The surge in aid commitment has been attributed to confidence of the donor agencies and countries to the present caretaker government and its reform programme, especially its anti-corruption drives.