Korea will give a loan of 90 million dollars to Bangladesh.A loan agreement titled ‘Climate Resilient Inclusive Development Program (Subprogram-1)’ was signed between the governments of Bangladesh and Korea on Monday (December 18).
Wing Chief and Additional Secretary of Economic Relations Department (ERD). Anwar Hussain and Korea Exim Bank Executive Director Hwang Kyon signed the loan agreement on behalf of GOB and Korea Exim Bank respectively. Finance Department and other related ministries have formulated policy reform programs.
Programs include mitigating greenhouse gas emissions, transitioning to a low-carbon economy, facilitating sustainable and climate-focused development pathways, strengthening resilience, and reducing vulnerability and vulnerability to the adverse impacts of climate change.
According to the loan agreement, the goals of this program have already been achieved. Since 1993, Korea Exim Bank has been providing loans on easy terms to various priority development projects of Bangladesh on behalf of the Korean government. The loan has a simple interest rate of 0.5 percent per annum with a grace period of 7 years 6 months and a maturity period of 25 years 6 months. Source: Bass
