Japan provides $1 billion ODA to Bangladesh, its largest to date

The Japan International Cooperation Agency or JICA signed an official development assistance or ODA loan agreement with Bangladesh to help boost the South Asia nation's economic growth, and improve infrastructure and social services. Amounting to more than $1 billion, the loan is Japan's largest ODA to date.

The assistance will be allocated to six major projects, including promoting direct foreign investment, improving power supply, building earthquake-resistant establishments, road construction and strengthening health services.

Bangladesh has the eighth most-populous nation in the world, with about 160 million people. The country also has maintained an annual economic growth of more than 6 percent in the past decade, mostly because of its booming garments and textiles industry. These factors make Bangladesh a promising production hub and investment location.

The country's unstable power supply and poor road conditions, together with unequal access to social and government services of its people, however, are hindering Bangladesh's further economic rise. JICA aims to address these challenges with the latest ODA.

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