Dhaka Bureau: The Japan International Cooperation Agency (JICA) has signed a loan agreement of 76,635 million Japanese yen (about Tk 5,600 crore) for the Hazrat Shahjalal International Airport expansion project (third installment). The agreement was signed at the office of the Economic Relations Department on Sunday (December 24).
JICA Bangladesh Senior Representative Hiroshi Yoshida and Secretary of the Economic Relations Department of the Ministry of Finance signed on their behalf at the signing ceremony. Shahriar Quader Siddiqui. The Japanese Ambassador to Bangladesh, Iwama Kiminori, was present at the event.
This loan agreement was made to further expand the activities of the Hazrat Shahjalal International Airport Expansion Project. The project includes the construction of a new passenger terminal building (Terminal 3), a new cargo complex, and multi-level car parking. Also, ancillary facilities like connectivity to other transport modes, sewage treatment plants, and water supply systems will be financed under this loan.
The Hazrat Shahjalal International Airport expansion project is bringing a revolutionary change in the field of civil aviation in Bangladesh. Through this, the growing demand for air and cargo movement in the country will be met. This will improve access and traffic to the airport. Besides, the passenger terminal will be more convenient to use, and the overall security of the airport will be strengthened.
The loan agreement has attached simple terms of an interest rate of 1.30 percent per annum for civil works and 0.20 percent per annum for consultancy services. As an expression of Japan’s continued cooperation in the sustainable development and progress of Bangladesh, the repayment period of this loan has been set at 30 years. Besides, it has fixed the loan grace period at 10 years.
At the signing ceremony, JICA Bangladesh Senior Representative Hiroshi Yoshida said, “This Hazrat Shahjalal International Airport expansion project is an important milestone in increasing the capacity of Bangladesh’s aviation sector. It will not only meet the growing demand but also make Bangladesh a hub for economic growth and regional connectivity. This initiative will further strengthen the bond between our two countries.”
