Muhith hopeful about realising $5b assistance from Japan

Finance Minister AMA Muhith yesterday hoped that Bangladesh will be able to realise about $5 billion assistance from Japan in three years as Japanese Prime Minister Shinzo Abe promised during his visit to Bangladesh in 2014, reports UNB.
"When Shinzo Abe visited Bangladesh, he made a very high promise of extending development cooperation. There has been an increase in development funding from Japan and it touched nearly $1.7 billion in the current fiscal year which was only $600 million three years back," Muhith told reporters.
The Finance Minister is now in Yokohama to attend ADB's 50th Annual Meeting of the Board of Governors.
Muhith said this after holding separate meetings with President of Japan International Cooperation Agency (JICA) Shinichi Kitaoka and Governor of Bank of Japan Haruhiko Kuroda at the Pacifico Yokohama Conference Centre on the sidelines of the ADB Annual meeting.
"Last year, JICA was in a fix as they thought that they should continue considering the present situation in Bangladesh, but the government (of Japan) was concerned about security. Anyway, this has gone now and JICA is currently working in full form in Bangladesh," he added.
Muhith said the Manila-based lending agency had responded promptly when the AL-led Grand Alliance government formed in 2009. "They (ADB) immediately came forward with a programme loan which the IMF took it up about two to three years later. So, that was the ADB's special appreciation towards regional problems."
The Finance Minister said Bangladesh's economic situation has reached a point that it can now take some non-concessional loans. "Our need for investment is still very high and they're yet to be met."
Terming the year 2016 a peaceful year for Bangladesh, Muhith said the challenge now lies before the private sector and they should come forward.
"Everybody now acknowledges that the investment opportunities in Bangladesh are very good for attracting both local and foreign direct investments," he said.
Muhith claimed that the efficiency of the executing agencies of the government has increased over the years while the drawdown from the pipeline has been very good.
Asked about the Metro Rail Project being implemented with Japanese assistance, he said the project will be implemented in time and 'may be faster'.

Muhith hopeful about realising $5b assistance from Japan

Finance Minister AMA Muhith yesterday hoped that Bangladesh will be able to realise about $5 billion assistance from Japan in three years as Japanese Prime Minister Shinzo Abe promised during his visit to Bangladesh in 2014, reports UNB. When Shinzo Abe visited Bangladesh, he made a very high promise of extending development cooperation. There has been an increase in development funding from Japan and it touched nearly $1.7 billion in the current fiscal year which was only $600 million three years back, Muhith told reporters. The Finance Minister is now in Yokohama to attend ADBs 50th Annual Meeting of the Board of Governors. Muhith said this after holding separate meetings with President of Japan International Cooperation Agency (JICA) Shinichi Kitaoka and Governor of Bank of Japan Haruhiko Kuroda at the Pacifico Yokohama Conference Centre on the sidelines of the ADB Annual meeting. Last year, JICA was in a fix as they thought that they should continue considering the present situation in Bangladesh, but the government (of Japan) was concerned about security. Anyway, this has gone now and JICA is currently working in full form in Bangladesh, he added. Muhith said the Manila-based lending agency had responded promptly when the AL-led Grand Alliance government formed in 2009. They (ADB) immediately came forward with a programme loan which the IMF took it up about two to three years later. So, that was the ADBs special appreciation towards regional problems. The Finance Minister said Bangladeshs economic situation has reached a point that it can now take some non-concessional loans. Our need for investment is still very high and theyre yet to be met. Terming the year 2016 a peaceful year for Bangladesh, Muhith said the challenge now lies before the private sector and they should come forward. Everybody now acknowledges that the investment opportunities in Bangladesh are very good for attracting both local and foreign direct investments, he said. Muhith claimed that the efficiency of the executing agencies of the government has increased over the years while the drawdown from the pipeline has been very good. Asked about the Metro Rail Project being implemented with Japanese assistance, he said the project will be implemented in time and may be faster.