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Japan to extend 600 billion yen in aid to Bangladesh

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(Globalpost/GlobalPost)

Prime Minister Shinzo Abe pledged Monday that Japan will provide yen loans worth 600 billion yen to Bangladesh over four to five years.

Japan will "extend economic cooperation amounting to about 600 billion yen for roughly four to five years," Abe said at a joint press conference with his counterpart Sheikh Hasina after their summit talks.

"Bangladesh has great economic potential. In order to realize its potential and expedite further growth, Japan has come up with the concept of the Bay of Bengal industrial growth belt," he said.

Abe also said the two countries agreed to establish a comprehensive partnership amid growing security concerns in Asia.

Ahead of her trip to Japan, Hasina told Japanese media Thursday in the Bangladeshi capital Dhaka that the South Asian country may not seek a nonpermanent seat on the Security Council next year as Japan plans to run in the election for the 2016 to 2017 term.

Hasina is scheduled to be in Japan until Wednesday.

==Kyodo

http://www.globalpost.com/dispatch/news/kyodo-news-international/140526/japan-extend-600-billion-yen-aid-bangladesh