In a major shift toward fortifying bilateral ties, Bangladesh and Japan inked an settlement on Dec. 24, 2023, marking Japan’s motivation to supporting Bangladesh’s enhancement endeavors. The accord entails a considerable financial loan of $540 million allotted for the ongoing design of the 3rd terminal at Hazrat Shahjalal Intercontinental Airport, together with a cargo terminal and linked services. This financial infusion is portion of the 3rd tranche of Japanese loans dedicated to the extensive airport growth job, totaling a considerable $2.21 billion.
The phrases of the personal loan, as disclosed by the Japanese embassy in Dhaka, are characterized by an interest rate of one.30 p.c. The compensation routine spans 20 several years, commencing after a grace interval of 10 decades. The official signing of the agreement transpired in Dhaka, that includes the participation of IWAMA Kiminori, the Japanese ambassador to Bangladesh, and Shahriar Kader Siddiky, the secretary to the Financial Relations Division.
The genesis of this fiscal collaboration traces back to December 2019, with the airport expansion undertaking approximated to incur a full value of Tk 21,three hundred crore. Of this economical outlay, Tk 15,000 crore originates from the Japan Global Cooperation Company (JICA), though the remainder is shouldered by the Bangladesh govt.
Key Minister Sheikh Hasina inaugurated the terminal partially on October 7, underscoring its strategic significance. Whilst operational use by airways is predicted in the near potential, the overarching goal of the job is to handle the escalating demand from customers in aviation. This involves expanding airport capacity, maximizing accessibility, and bolstering security measures—a collective energy that is poised to make sizeable contributions to Bangladesh’s economic development.
In alignment with these aims, the expanded airport is projected to enjoy a pivotal position in augmenting regional connectivity. This, as articulated in the official statement, aligns with Japan’s unwavering dedication to supporting Bangladesh’s growth by means of a strategic partnership aimed at fostering mutual prosperity.
The Civil Aviation Authority of Bangladesh (CAAB) has outlined the anticipated functions of the new terminal, indicating its potential to accommodate 37 aircraft and host 26 boarding bridges. Currently, the airport’s two present terminals aid the operations of 33 airlines, handling the takeoff and landing of one hundred twenty-130 airplanes. On a day by day basis, these terminals serve close to 30,000 to 35,000 passengers, with an yearly throughput of all around eight million passengers.
On the completion and full operation of the third terminal, an supplemental 12 million passengers can be accommodated every year. This enlargement is complemented by a strong infrastructure, like 59 counters for arrivals (which include five automatic ones) to expedite passenger expert services. For departures, the terminal is geared up with a hundred and fifteen test-in counters, of which 15 are self-support counters. Furthermore, 66 departure immigration counters, that includes ten computerized passport manage counters, intention to greatly enhance the efficiency of the departure method.
The in depth method to infrastructure progress also extends to ancillary facilities, with a multi-storey motor vehicle parking framework in the terminal’s development pipeline. This parking facility is poised to accommodate a significant 1,044 autos, catering to the burgeoning calls for of an increasing airport.
Japan’s money commitment to the Hazrat Shahjalal International Airport enlargement job stands as a testomony to the enduring partnership among the two nations. Outside of the monetary component, this collaboration underscores the shared vision of advertising and marketing financial advancement, regional connectivity, and the over-all advancement of Bangladesh’s aviation sector. The strategic infusion of money aligns with Japan’s committed role as a trusted companion in Bangladesh’s journey in the direction of development, encapsulating a narrative of cooperation, mutual advantage, and shared prosperity.
[Photo by Civil Aviation Authority of Bangladesh]
*Syed Raiyan Amir is a Analysis Associate at the KRF Heart for Bangladesh and Worldwide Affairs. He was a Analysis Assistant at the United Nations Office on Medicine and Criminal offense (UNODC) and Intercontinental Republican Institute (IRI). The sights and opinions expressed in this short article are individuals of the writer.
