The Japan International Cooperation Agency (JICA) has inked a pivotal loan agreement amounting to 76,635 million Japanese Yen (approximately BDT 5,600 crore) for the Hazrat Shahjalal International Airport (HSIA) Expansion Project (Tranche III). The signing took place on December 24, 2023, at the Economic Relations Division office. said a press release.
The loan is extended for the Hazrat Shahjalal International Airport (HSIA) Expansion Project, whose extensive scope encompasses constructing a new passenger terminal building (Terminal 3), a new cargo complex, and multi-level car parking. Ancillary facilities like connection with other transport modes, sewage treatment plants, and water supply systems are also being financed under the loan.
Hiroshi Yoshida, Senior Representative, JICA Bangladesh, signed the loan agreement with Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, and Ministry of Finance. Iwama Kiminori, the Japanese Ambassador to Bangladesh, also attended the signing ceremony.
The HSIA Expansion Project is poised to revolutionize the aviation landscape of Bangladesh. It will address the escalating demand for air and cargo traffic, enhance airport access, improve passenger terminal convenience, and bolster safety measures by reinforcing security functions.
The loan agreement features favorable terms, with an annual interest rate of 1.30 percent for civil works and 0.20 percent for consulting services. The 30-year repayment period, including a 10-year grace period, reflects Japan’s commitment to supporting Bangladesh’s sustained development and progress.
During the signing ceremony, Hiroshi Yoshida, Senior Representative, JICA Bangladesh, emphasized, “The HSIA Expansion Project represents a pivotal step in redefining Bangladesh’s aviation capabilities. Beyond addressing immediate needs, it positions Bangladesh as a hub for economic growth and regional connectivity, thereby strengthening the bonds between our two nations.”
