In a significant transfer toward fortifying bilateral ties, Bangladesh and Japan inked an settlement on Dec. 24, 2023, marking Japan’s dedication to supporting Bangladesh’s progress endeavors. The accord includes a significant personal loan of $540 million allocated for the ongoing building of the 3rd terminal at Hazrat Shahjalal International Airport, together with a cargo terminal and involved facilities. This money infusion is component of the 3rd tranche of Japanese loans dedicated to the in depth airport growth task, totaling a substantial $2.21 billion.
The phrases of the loan, as disclosed by the Japanese embassy in Dhaka, are characterised by an fascination level of 1.thirty percent. The reimbursement agenda spans 20 a long time, commencing soon after a grace time period of 10 several years. The formal signing of the agreement transpired in Dhaka, showcasing 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 monetary collaboration traces back again to December 2019, with the airport expansion venture believed to incur a complete price tag of Tk 21,300 crore. Of this economic outlay, Tk fifteen,000 crore originates from the Japan Intercontinental Cooperation Agency (JICA), though the remainder is shouldered by the Bangladesh government.
Primary Minister Sheikh Hasina inaugurated the terminal partly on Oct 7, underscoring its strategic significance. Even though operational use by airways is expected in the close to foreseeable future, the overarching objective of the task is to address the escalating demand from customers in aviation. This involves expanding airport potential, enhancing accessibility, and bolstering stability measures—a collective exertion that is poised to make substantial contributions to Bangladesh’s financial growth.
In alignment with these objectives, the expanded airport is projected to perform a pivotal purpose in augmenting regional connectivity. This, as articulated in the official assertion, aligns with Japan’s unwavering dedication to supporting Bangladesh’s enhancement through a strategic partnership aimed at fostering mutual prosperity.
The Civil Aviation Authority of Bangladesh (CAAB) has outlined the predicted attributes of the new terminal, indicating its potential to accommodate 37 aircraft and host 26 boarding bridges. Currently, the airport’s two present terminals facilitate the functions of 33 airways, controlling the takeoff and landing of one hundred twenty-a hundred thirty airplanes. On a day-to-day basis, these terminals serve approximately thirty,000 to 35,000 passengers, with an yearly throughput of about 8 million travellers.
On the completion and entire operation of the third terminal, an supplemental 12 million travellers can be accommodated per year. This growth is complemented by a strong infrastructure, which includes 59 counters for arrivals (including five automatic types) to expedite passenger solutions. For departures, the terminal is outfitted with a hundred and fifteen examine-in counters, of which fifteen are self-provider counters. Moreover, 66 departure immigration counters, that includes ten computerized passport command counters, goal to greatly enhance the effectiveness of the departure approach.
The thorough tactic to infrastructure development also extends to ancillary amenities, with a multi-storey car parking composition in the terminal’s building pipeline. This parking facility is poised to accommodate a sizeable one,044 automobiles, catering to the burgeoning requires of an expanding airport.
Japan’s monetary commitment to the Hazrat Shahjalal Intercontinental Airport growth challenge stands as a testament to the enduring partnership involving the two nations. Beyond the financial element, this collaboration underscores the shared vision of marketing economic development, regional connectivity, and the overall improvement of Bangladesh’s aviation sector. The strategic infusion of funds aligns with Japan’s committed job as a responsible companion in Bangladesh’s journey toward enhancement, encapsulating a narrative of cooperation, mutual reward, and shared prosperity.
[Photo by Civil Aviation Authority of Bangladesh]
*Syed Raiyan Amir is a Investigate Affiliate at the KRF Center for Bangladesh and International Affairs. He was a Analysis Assistant at the United Nations Business office on Medication and Crime (UNODC) and Global Republican Institute (IRI). The views and thoughts expressed in this posting are those people of the creator.
