Matarbari power project will diversify Bangladesh's energy sources, says Japan Ambassador

Ambassador of Japan to Bangladesh Iwama Kiminori has said the Matarbari Ultra Super Critical Coal- Fired Power Project will contribute to meeting the growing electricity demand and diversifying energy sources in Bangladesh.

At the Japan-Bangladesh Summit in April 2023, he said the progress of the development project in the Southern Chattogram area, which includes the project, was welcomed by our leaders, and continued cooperation in the development of the area was confirmed.

“It is also important in terms of connectivity with northeastern India. I spare no effort in extending further cooperation to the Government and the people of Bangladesh to build a win-win partnership, now that is the “Strategic Partnership”, for our prosperous future," he said while addressing at the signing ceremony in Dhaka on Saturday (Sept 30).

Ambassador of Japan Iwama Kiminori and Secretary, Economic Relations Division, Ministry of Finance Ms. Sharifa Khan signed the Exchange of Notes of the 44rh Official Development Assistance (ODA) Yen Loan of Japan to Bangladesh.

The second installment of the 44th Japanese Yen Loan Package is 217.556 billion yen. Since the first round was 30 billion yen, the total amount of the 44th round of yen loans is 247.556 billion yen, equivalent to USD 1.67billion.

Based on this agreement between the two counties, Ichiguchi Tomohide, Chief Representative of JICA Bangladesh Office and Ms. Sharifa Khan signed a relevant Loan Agreements.

The 43rd Exchange of Notes covers the following projects: Matarbari Ultra Super Critical Coal- Fired Power Project (VII) (loan amount: 217.556 billion yen); Interest Rate: 1.60 % per annum (The part concerning payments to consultants: 0.1% per annum), Repayment period:Twenty years after the grace period of ten years.