Govt requests Japan to increase dev assistance to ¥450 billion  

The government has requested Japan to increase the yearly threshold of official development assistance (ODA) from 300 billion to 450 billion Japanese Yen (JPY).

The request was made by Md Shahriar Kader Siddiky, secretary of the Economic Relations Department (ERD), at the ODA Loan Operation Programme held in Tokyo from 3-7 June.

He also requested support to develop 100,000 AI engineers over the next five years, cooperation for smart city development, development of the ship recycling industry, electric vehicle production, investment in high-tech parks, assistance for food processing with compliance, and additional financing for climate resilience projects.

According to an ERD press release issued on Sunday (9 June), Shahriar Kader also requested the Japanese side to enhance cooperation in the jute, leather, and tourism sectors and to expand possible assistance to help Bangladesh achieve its target of becoming a developed country by 2041.

The Japanese side mentioned that Bangladesh is currently the second-largest ODA recipient country and assured continued support for Bangladesh's sustainable growth.

Official development assistance (ODA) is basically financial aid provided by wealthier countries to help developing countries improve their economies and overall well-being of their citizens. It's an internationally recognised term managed by the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD).

A four-member Bangladeshi delegation headed by the ERD Secretary met Hara Shohei, senior vice president of Japan International Cooperation Agency (JICA) and discussed ongoing JICA assisted projects and future cooperation of JICA in Bangladesh.