Bangladesh, Japan strike deal for $2.8 billion Dhaka metro rail

[Maysun]

Bangladesh, Japan sign metro rail loan deal

Dhaka (The Daily Star/ANN) - Bangladesh and Japan signed separate deals on Wednesday under which Tokyo will provide US$792.82 million to implement four projects in Bangladesh, including the long-cherished metro rail system.
Of the amount, US$784.82 million is a soft loan while the rest is a grant. With an interest rate of 0.01 percent, the loan is payable in 40 years including a 10-year grace period.
Japan will initially be providing US$116.32 million.
Japan had earlier agreed to provide 85 percent of the total metro rail cost of US$2.7 billion, while the rest of the cost was to be borne by the Bangladeshi government.
Wednesday's deal was for a pre-construction phase. A separate deal for the rest of the funding for the project will be signed at a later date, officials said.

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Finally!!

[Naimul_Hd]

Good news. I really hope this project also finishes like 'Hatir Jheel project'

[Jadukor]

A step in the right direction. This should ease off the traffic on the street a little. A lot of my friends with offices in Motijheel will be very happy with this news. Hope this time govt ensures zero corruption.