Staff Reporter :
The Korean government plans to give Bangladesh $ 350 million as loan from Economic Development Cooperation Fund (EDCF) for the country’s infrastructure development.
Bangladesh and Korea on Thursday signed the EDCF framework arrangement which will enable Bangladesh to obtain EDCF loan up to $ 350 million in 2015 to 2017 to finance infrastructure development projects.
Speaking on the occasion, Korean Ambassador in Dhaka Anh Seung-doo said, Bangladesh is already one of the highest priority countries in the ODA operations of the Korean government.
He said, Korea will continue to play a pivotal role in the socio-economic growth and industrial development of Bangladesh by effective implementation of the Korean ODA in the best sustainable way.
According to the Korean Embassy in Dhaka, it is expected that the EDCF Framework Arrangement will contribute to further strengthening the already close and friendly relationship between the two countries.
EDCF Loan operated by Korea Eximbank on behalf of the government of Korea, is a kind of concessional loan (ODA Loan), with terms and conditions such as 0.01 percent per annum of interest rate, 40 years of reimbursement period with 15 years of grace period.
The EDCF loan of $ 350 million will be extended to build socio-economic foundations which will be essential for the economic and industrial development of Bangladesh and enhancement of the living standard of Bangladesh’s people.
The Korean government plans to give Bangladesh $ 350 million as loan from Economic Development Cooperation Fund (EDCF) for the country’s infrastructure development.
Bangladesh and Korea on Thursday signed the EDCF framework arrangement which will enable Bangladesh to obtain EDCF loan up to $ 350 million in 2015 to 2017 to finance infrastructure development projects.
Speaking on the occasion, Korean Ambassador in Dhaka Anh Seung-doo said, Bangladesh is already one of the highest priority countries in the ODA operations of the Korean government.
He said, Korea will continue to play a pivotal role in the socio-economic growth and industrial development of Bangladesh by effective implementation of the Korean ODA in the best sustainable way.
According to the Korean Embassy in Dhaka, it is expected that the EDCF Framework Arrangement will contribute to further strengthening the already close and friendly relationship between the two countries.
EDCF Loan operated by Korea Eximbank on behalf of the government of Korea, is a kind of concessional loan (ODA Loan), with terms and conditions such as 0.01 percent per annum of interest rate, 40 years of reimbursement period with 15 years of grace period.
The EDCF loan of $ 350 million will be extended to build socio-economic foundations which will be essential for the economic and industrial development of Bangladesh and enhancement of the living standard of Bangladesh’s people.
