Japan assures $400m loan for Padma Bridge

Japan will keep the promise to provide a loan of US $400 million for Padma River Bridge in Bangladesh, said a senior Japanese official yesterday.

“We promised to give a loan for the construction of Padma River Bridge during Prime Minister Sheikh Hasina’s visit to Japan last November.

“It might be delayed following the March 11 earthquake and tsunami, but we will keep the promise,” said Takanori Uehara, chargé d’ affaires of Japan embassy to Bangladesh.

He was speaking at a seminar titled “Total solar solutions: A road to sustainable energy” organised by Japan Solartech (Bangladesh) Limited at Sheraton Hotel in the city.

Japan recently put the loan on hold, as it needs to focus more on reconstructing its battered economy.

The Japanese government was part of an international consortium, led by World Bank, which agreed to lend Bangladesh up to US $2.9 billion for the six kilometre long (3.8 mile) bridge last year.

Construction of the bridge, which is expected to boost the South Asian country’s economy by linking the underdeveloped southwest with the capital and Chittagong port, is due to begin this year and be completed by 2015.

daily star

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