Japanese Ambassador in Dhaka Masayuki Inoue formally apprised Chief Adviser Fakhruddin Ahmed of the new loan package when the envoy called on him at his office yesterday.

This will be the first such big amount of loan assistance by a development partner to the present caretaker government after it assumed power on January 12 this year, said an official.

The projects for which the soft loan will be utilised are New Haripur Power Plant's 360MW Development Project (Part-I) involving $144 million, Dhaka-Chittagong Railway Development Project with $104 million and Water Resources Development Project involving $43 million.

The loan repayment period is 40 years with a grace period of 10 years at 0.01 percent interest rate per annum, according to the Chief Adviser's Press Secretary Syed Fahim Munaim who was present at the meeting.

Expressing gratitude for the loan assistance, the chief adviser assured the Japanese envoy that it would be used in a transparent manner as per the guidelines.

The envoy said Japan has a great confidence in the caretaker government and the loan assistance is the reflection of that support to the chief adviser and his government.

He said the Japanese government and its people want to continue support to Bangladesh for its development.

The chief adviser said the government has been working relentlessly to achieve the Millennium Development Goals (MDGs) despite some limitations.

He urged the Japanese investors to come forward to invest in Bangladesh taking advantage of the present investment-friendly climate.

As the Japanese envoy requested the chief adviser to complete the Japan-funded ongoing projects soon, he (CA) directed the ERD Secretary to take necessary actions to that end.

ERD Secretary Aminul Islam Bhuiyan was also present on the occasion.