Economicd Reporter :
Foreign aid commitment in the first three months of the current fiscal year saw a sharp increase due to the Russian $11.38 billion credit deal to build Rooppur nuclear power plant.
The development partners have committed over $12.03 billion to Bangladesh as assistance in the first quarter (Q1) of Fiscal Year 2016-17, official data shows.
In the same period of last fiscal year, the country received $53 million aid pledge from its development partners.
Economic Relations Division (ERD) data showed that out of the figure pledged during the July-September of this fiscal year, development partners committed $12 billion as concessional loans and about $28 million as grants.
In FY ’16, the amount of loans was $408 million and grants $94 million.
“Foreign aid commitment jumped because of Russian credit,” said an official at the ERD.
In July last, Bangladesh signed its biggest ever intergovernmental credit agreement of $11.38 billion in Moscow to implement the 2400MW Rooppur nuclear power plant project.
However, the aid commitment usually in the beginning of every fiscal year reflects a poor scenario, but its flow would ultimately rise in the second half of fiscal year.
During the July-September period of this fiscal year, foreign loan disbursement also increased insignificantly to $500 million from $503 million last year.
Foreign aid commitment in the first three months of the current fiscal year saw a sharp increase due to the Russian $11.38 billion credit deal to build Rooppur nuclear power plant.
The development partners have committed over $12.03 billion to Bangladesh as assistance in the first quarter (Q1) of Fiscal Year 2016-17, official data shows.
In the same period of last fiscal year, the country received $53 million aid pledge from its development partners.
Economic Relations Division (ERD) data showed that out of the figure pledged during the July-September of this fiscal year, development partners committed $12 billion as concessional loans and about $28 million as grants.
In FY ’16, the amount of loans was $408 million and grants $94 million.
“Foreign aid commitment jumped because of Russian credit,” said an official at the ERD.
In July last, Bangladesh signed its biggest ever intergovernmental credit agreement of $11.38 billion in Moscow to implement the 2400MW Rooppur nuclear power plant project.
However, the aid commitment usually in the beginning of every fiscal year reflects a poor scenario, but its flow would ultimately rise in the second half of fiscal year.
During the July-September period of this fiscal year, foreign loan disbursement also increased insignificantly to $500 million from $503 million last year.
