Jica's 2nd highest ODA loan disbursement to Bangladesh

Photo: Courtesy

The Japan International Cooperation Agency (Jica) recently reported that during the Japanese Fiscal Year 2022, both its commitment and disbursement of official development assistance (ODA) loans in Bangladesh reached the second-highest levels since March 1974.

In the last Japanese fiscal year (spanning April 2022 to March 2023), Jica committed a total of 331 billion Japanese Yen across five crucial projects, further solidifying its long-standing history of cooperation with Bangladesh.

Jica's disbursement in the Japanese Fiscal Year 2022 amounted to 261 billion Japanese Yen, slightly below the 264 billion Japanese Yen disbursement during Japanese FY 2021.

The projects are — the Dhaka Mass Rapid Transit Development Project Line-5 Northern Route (2nd Tranche) loan amount is around 133,399 million yen; the Southern Chattogram Regional Development Project loan amount is 32,462 million yen; the Matarbari Port Development Project (2nd Tranche) loan amount is about 105.362 billion yen; Chattogram-Cox's Bazar Highway Improvement Project (1st Tranche) loan amount is 55.729 billion yen; and Project for the Construction of Dual Gauge Double Line between Joydebpur and Ishwardi Section (E/S) loan amount is 4.228 billion yen.

The ODA loan in Bangladesh is Jica's record maximum in FY2020 reaching the highest commitment of 373 billion Japanese yen, according to a press release.

The record-setting feat of FY 2022 can be attributed to the steady progress of the ongoing megaprojects.

The total commitment of ODA loans in Bangladesh consists of five key projects, the press release reads.

Over the past decade, Jica has steadfastly expanded its collaboration with Bangladesh through ODA loans, grants, and technical cooperation schemes to meet the country's growing demand for a heightened economic and social infrastructure.

In the coming years, Jica aims to continue working with Bangladesh to realise its development agenda.