Bangladesh will get Japanese loan assistance of US$ 324 million, approximately Tk 21 billion, for implementing three projects.

To this effect, Japanese Ambassador to Bangladesh Masayuki Inoue and Secretary, Economic Relations Division (ERD), M Aminul Islam Bhuiyan will sign an Exchange of Notes at the ERD tomorrow (Tuesday), said a Japan Embassy release.

Under the agreement, the Government of Japan will provide the loan assistance to the Government of Bangladesh through Japan Bank for International Cooperation (JBIC) for the implementation of the projects.

The projects are : New Haripur Power Plant (360 MW) Development Project (Part I), Dhaka-Chittagong Railway Development Project and Small Scale Water Resources Development Project. The conditions of the loan are the most generous. The interest rate is 0.01% per annum and the repayment period is 40 years inclusive of 10-year grace period for the three loans.