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Bangladesh likely to get $600m budgetary support from Jica

Published : 26 Sep 2022 09:58 PM

Bangladesh is likely to get $600 million from the Japan International Cooperation Agency (Jica) as budgetary support.

Planning Minister MA Mannan expected this following a meeting with the outgoing Jica Country Director Yuho Hayakawa and his replacement Ichiguchi Tomohide on Monday at the Ministry of Planning in the capital.

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

Mannan said the proposal for the budget support has been sent from Bangladesh.

Regarding the budget support, the planning minister said, “The government has given some glimpses by asking for budget support. It is in process, looks positive in future. But everyone has some rules that must be followed. I believe after all the processing we will get the budget support. The atmosphere is very positive. JICA will give us $600 to $700 million dollar budget support.”

He further said the two JICA representatives were positive regarding the matter and would work at the highest level in this regard. 

Mannan 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.  

The 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.