Japan and Bangladesh signed an agreement in Tokyo on Monday concerning Japan's loan assistance of65 million U.S. dollars for the "Emergency Disaster Damage Rehabilitation" project in Bangladesh.
Bangladeshi caretaker government's Foreign Advisor Dr. Iftekhar Ahmed Chowdhury, who is now visiting Japan, and Masahiko Koumura, minister for Foreign Affairs of Japan, signed the agreement after their meeting, said a release from the Japanese Embassy here.
The loan was pledged last month by Japanese Ambassador Masayuki Inoue to Dr Mirza Azizul Islam, adviser of the Ministry of Finance and Ministry of Planning.
The rehabilitation project under the loan will be started following the signing of the agreement. "The loan is provided as co-financing with the Asian Development Bank (ADB)," the release said.
The objective of the project is to support "quick restoration of economic and social activity" in the areas damaged by the floods and Cyclone Sidr in 2007.
Rehabilitating and reconstructing damaged public infrastructure, thereby, contributing to sustainable economic growth, are also among the objectives.
Japan has long been assisting in disaster mitigation and damage recovery in Bangladesh. For recovery from the damage caused by Cyclone Sidr, Japan already has provided emergency relief goods equivalent to about 327,100 U.S. dollars and Emergency Grant Aid through U.N. agencies equivalent to 3.7 million U.S. dollars.
Based on the request from the Bangladeshi government, Japan has already started the assessment procedure for construction of additional cyclone shelters in affected areas.
Source: Xinhua
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