DHAKA: Japan International Cooperation Agency (JICA) gave Tk 11,000 crores loan for the construction of Matarbari coal-based power plant at Moheshkhali in Cox's Bazar.
The company gave the loan under the 40th loan package.
A note of exchange and a loan agreement were signed at the conference room of the National Economic Council (NEC) in city's Sher-e-Bangla Nagar on Sunday (June 30).
Bangladesh Economic Relations Division (ERD) Secretary Monowar Ahmed, Japanese Ambassador to Bangladesh Hiroyasu Izumi and JICA's Chief Representative in Bangladesh Hitoshi Hirata signed the agreement.
The annual interest rate for this loan was 0.9 percent for the construction of the project and 0.5 percent for consultancy services.
Loan repayment has been adopted for 30 years, with 10 years of grace period.
Coal Power Generation Company Bangladesh Limited (CPGCBL) will implement the project. In this moment, Matarbari coal-based thermal power plant project, involving Tk 35 thousand 984 crore 46 lakh, is the most expensive project of the country.
The total expenditure of the project is Tk 28,939 crore coming from foreign funding (JICA), Tk 4,926 crore 66 lakh from the government and 2,118 crore 77 lakhs from the organization's own fund.
ERD secretary Manwar Ahmed said, JICA is providing loans under the projects in phases. Agreements have already been signed under 35th, 37th, 38th and 39th loan packages.
At the bilateral level, Japan is Bangladesh's biggest development partner country. Since independence, Japan has been providing loans in various sectors for the socio-economic development of Bangladesh so far, he added.
Moreover, the separate loan agreement has been signed for two more projects. Of this, the loan agreement of Tk 93.55 cr has been signed under the project 'The Project for the Densification of Global Navigation Satellite Continuously Operating Reference Station Network and the Modernization of Tidal Stations in Bangladesh'.
Through this project, proper survey and mapping work will be done in the country. The project will be implemented between January 2019 and December 2020.
Tk 84.54 crores of loan agreement has been signed under 'The Project for Human Resource Development Scholarship'.
The project had started in 2001 and will continue till 2020. Under the project, BCS cadres and first class officers of Bangladesh Bank will be given scholarships for two-year-long Masters Course in various Japanese universities.
A total of 11,178.09crores loan agreement has been signed with JICA for three projects.
BDST: 1618 HRS, JUNE 30, 2019
RS/SMS
