Dhaka: Japan and Bangladesh have formalized an agreement in which Japan will provide $1.063 billion to Bangladesh. This financial support is earmarked for budget assistance, railway infrastructure enhancement, and scholarship grants.
According to Bangladesh Sangbad Sangstha, the agreement includes a $418 million Development Policy Loan aimed at facilitating Bangladesh’s economic reforms and enhancing its climate resilience. Additionally, Japan will provide $641 million for the conversion of the Joydevpur-Ishwardi railway line into a dual-gauge double track. A further $4.2 million will be granted for scholarships to support human development.
The signing of the exchange notes was witnessed by Chief Adviser Professor Muhammad Yunus. Bangladesh’s ambassador to Japan, Md Daud Ali, and Japanese ambassador to Bangladesh, Shinichi Saida, signed the agreements on behalf of their respective governments.