A loan agreement on "Climate Resilient Inclusive Development Programme (Subprogram1)" amounting to $90.00 million was signed on Monday between the government of Bangladesh and Korea, reports BSS.
Md Anwar Hossain, wing chief and additional secretary of the Economic Relations Division (ERD), and Hwang Kiyeon, executive director of Korea Eximbank, signed the loan agreement on behalf of the GoB and Korea Eximbank respectively.
Finance Division along with other relevant ministries has formulated the policy reform programme. The Programme scope includes mitigating greenhouse gas emissions and transition to a low-carbon economy, facilitating a sustainable and climate- focused development pathway and strengthening resilience and reduce risk and vulnerability to adverse climate change impact.
According to the deal, the objectives of the programme have already been achieved. Since 1993, on behalf of the Korean Government, the Korea Eximbank has been providing soft loan to various priority development projects in Bangladesh.
Under the agreement, this loan will bear simple interest rate of 0.5 per cent per annum while maturity period will be 25.5 years including a grace period of 7.5 years.
Korea to provide $90m loan to Bangladesh
FE Team | Published: December 18, 2023 23:54:17
Korea to provide $90m loan to Bangladesh
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