Bangladesh likely to get $600m from Jica as budgetary support: Minister

The Japan International Cooperation Agency (Jica) is set to provide $600 million budget support to Bangladesh.

Although the final decision on this has not been taken by the top level of Jica, Planning Minister MA Mannan said Japan had been positive in this regard so the budgetary support is expected.

Following a meeting with the outgoing Jica Country Director Yuho Hayakawa and his replacement Ichiguchi Tomohide on Monday at the Ministry of Planning, Mannan said the proposal for the budget support has been sent from Bangladesh.

The planning minister said the two JICA representatives were positive regarding the matter and would work at the highest level in this regard.

It is, however, in the discussion stage and nothing has been finalised yet, he added.

He mentioned that Jica had been funding the economic zone in Araihazar and the Matarbari coal-fired plant.

As planned budget support was mobilised from development partners to revive the economy in the post-pandemic period, it was also expected in the wake of the Russia-Ukraine war. 

Chief Representative Tomohide said, "The metrorail (MRT-6), Meghana-Gomti-Kanchpur Bridge and Matarbari Coal Power Plant is being implemented through Jica's financing. I have experience in this matter. I hope that I can contribute to the development of the country in the future."

Bangladesh received $656 million budget support from Jica in the last two fiscal years to recover from the Covid-19 situation.