In a significant transfer towards fortifying bilateral ties, Bangladesh and Japan inked an arrangement on Dec. 24, 2023, marking Japan’s dedication to supporting Bangladesh’s growth endeavors. The accord entails a substantial financial loan of $540 million allotted for the ongoing building of the 3rd terminal at Hazrat Shahjalal Worldwide Airport, together with a cargo terminal and involved services. This economic infusion is component of the third tranche of Japanese financial loans dedicated to the comprehensive airport growth project, totaling a significant $2.21 billion.
The conditions of the financial loan, as disclosed by the Japanese embassy in Dhaka, are characterized by an curiosity level of one.30 percent. The compensation program spans twenty many years, commencing right after a grace period of ten many years. The formal signing of the arrangement transpired in Dhaka, showcasing the participation of IWAMA Kiminori, the Japanese ambassador to Bangladesh, and Shahriar Kader Siddiky, the secretary to the Economic Relations Division.
The genesis of this monetary collaboration traces again to December 2019, with the airport enlargement task approximated to incur a total charge of Tk 21,300 crore. Of this fiscal outlay, Tk fifteen,000 crore originates from the Japan International Cooperation Company (JICA), while the remainder is shouldered by the Bangladesh governing administration.
Key Minister Sheikh Hasina inaugurated the terminal partially on October seven, underscoring its strategic relevance. While operational use by airways is expected in the around long term, the overarching objective of the task is to deal with the escalating demand from customers in aviation. This entails increasing airport potential, boosting accessibility, and bolstering stability measures—a collective effort and hard work that is poised to make substantial contributions to Bangladesh’s financial growth.
In alignment with these plans, the expanded airport is projected to perform a pivotal position in augmenting regional connectivity. This, as articulated in the formal assertion, aligns with Japan’s unwavering perseverance to supporting Bangladesh’s enhancement as a result of a strategic partnership aimed at fostering mutual prosperity.
The Civil Aviation Authority of Bangladesh (CAAB) has outlined the expected characteristics of the new terminal, indicating its ability to accommodate 37 aircraft and host 26 boarding bridges. Currently, the airport’s two present terminals aid the functions of 33 airways, running the takeoff and landing of one hundred twenty-a hundred thirty airplanes. On a everyday basis, these terminals provide close to 30,000 to 35,000 travellers, with an once-a-year throughput of close to eight million passengers.
Upon the completion and comprehensive procedure of the third terminal, an added 12 million travellers can be accommodated each year. This growth is complemented by a sturdy infrastructure, including 59 counters for arrivals (which includes five automatic kinds) to expedite passenger products and services. For departures, the terminal is geared up with a hundred and fifteen check-in counters, of which fifteen are self-assistance counters. Furthermore, sixty six departure immigration counters, showcasing 10 computerized passport regulate counters, goal to increase the efficiency of the departure approach.
The in depth tactic to infrastructure development also extends to ancillary services, with a multi-storey car or truck parking construction in the terminal’s construction pipeline. This parking facility is poised to accommodate a substantial 1,044 cars and trucks, catering to the burgeoning calls for of an expanding airport.
Japan’s fiscal motivation to the Hazrat Shahjalal Worldwide Airport growth project stands as a testament to the enduring partnership involving the two nations. Outside of the monetary aspect, this collaboration underscores the shared eyesight of advertising economic progress, regional connectivity, and the all round advancement of Bangladesh’s aviation sector. The strategic infusion of money aligns with Japan’s focused job as a responsible husband or wife in Bangladesh’s journey to growth, encapsulating a narrative of cooperation, mutual advantage, and shared prosperity.
[Photo by Civil Aviation Authority of Bangladesh]
*Syed Raiyan Amir is a Study Affiliate at the KRF Middle for Bangladesh and Worldwide Affairs. He was a Research Assistant at the United Nations Office environment on Medication and Crime (UNODC) and Intercontinental Republican Institute (IRI). The sights and viewpoints expressed in this write-up are individuals of the creator.
