The Japan International Cooperation Agency (JICA) and Economic Relations Division (ERD) signed a loan agreement worth $158 million to extend the mass rapid transition line -6 (MRT-6) from Motijheel to Kamlapur.

Previously Japan had confirmed a loan worth $2.5 billion for the construction project of MRT-6 from Uttara to Motijheel. The newly signed agreement extends the existing project to Kamlapur. With a grace period of 10 years, the loan will mature within 30 years.

The Japanese loan will have an interest rate of 0.70 percent for construction and 0.01 percent for consultancy services. Japan, Bangladesh’s single largest development partner, has till now provided $17.46 billion in loans and grants, out of a total commitment of $27.43 billion.

Source: The Financial Express