Japan has approved $630 million worth of loans for infrastructure and business development projects in Bangladesh.
Of the sum, $415 million will be used for the construction of the Padma Bridge, which is expected to cost a total of $2.9 billion. Bangladesh has earlier secured a $1.2 billion loan from the World Bank for the project.
>> Bangladesh River Bridge Project Wins World Bank Aid
Japan initially delayed the approval of the loan for the Padma Bridge project as it was focusing on efforts to repair the damage brought on by the strong earthquake and tsunami that hit the donor country on March 11.
>> Japan Postpones Loan for Bangladesh Bridge
Japan also approved a $55 million loan for small and medium-sized business development projects and a $160 million loan for the construction of a water treatment plant in Khulna.
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