The New Nation - Internet Edition

Staff Reporter

Japan government's two largest aid agencies--Japan International Cooperation Agency (JICA) and Japan Bank for International Cooperation (JBIC)-are going to be merged into a single entity from October 1 next.

With some 10 billion US dollars of available financial resources and 1,633 staff, the new organization, named, as 'New JICA' will be the world's largest bilateral development organization working around 150 countries. Only 19 new JICA-JBIC combined offices will be established around the world and one of them will be in Dhaka.

"As all you know, the economy of Bangladesh is now strong and advancing. Bangladesh has enough potential for next stage of development," said Masayuki Inoue, Ambassador of Japan to Bangladesh, while addressing the audience at the merger ceremony of JICA and JBIC at Sonargaon Hotel in the city yesterday.

"I sincerely hope that Bangladesh will be more developed. At the same time, I also hope that Bangladesh's prosperity will bring benefits to all citizens in this country, not only to the rich people," he said.

The Ambassador also said that Japan would continuously support Bangladesh in future.

Speaking on the occasion, LGRD and Cooperatives Adviser Mohammed Anwarul Iqbal said Japan is Bangladesh's largest bilateral development partner and Japanese official development assistance (ODA) has made visible positive impact on the socio-economic development in the country, particularly in the fields of infrastructure, poverty alleviation, human resources development, education, culture, health, and science and technology.

Japan is also a significant source of foreign direct investment and has turned out to become an important trading partner of Bangladesh, he said. However, the Adviser said apart from development assistance, Bangladesh as a developing nation welcomes flow of foreign investment to help introduce new technology, improve job market and accelerate economic growth.

Referring to the merger of JICA and JBIC, Iqbal said, "We hope that joint effort of JICA and JBIC as a new organization will be more synergistic in effect in the utilization of Japanese development assistance."

"Rather than the individual initiatives, concerted effort of newly formed JICA in the comprehensive selection and implementation of programmes and projects is expected to make more positive impact on the economy and people of Bangladesh."

Ms Nobuko Suzuki Kayashiama, Resident Representative of JICA Bangladesh Office, said that New JICA would be committed to work with the Bangladesh government for its sustainable development more closely than ever before. "We will also work along with other development partners to exercise efficient and effective development assistance to Bangladesh through proactive participation in a joint cooperation strategy."

Until now, she said Japanese technical cooperation has been handled by JICA, ODA loan by JBIC and grant aid by the Ministry of Foreign Affairs. New JICA will handle them all together to maximize synergy effect of those schemes.

Explaining the New JICA's future initiatives for Bangladesh, Ms Kayashiama said New JICA would continue to assist Bangladesh in both economic and social aspects of development as JICA and JBIC together had done in the past three decades.

Besides, New JICA would offer tailor-made assistance to best address different development issues in a timely manner.

Moreover, New JICA would place greater emphasis on climate change and disaster management in the years to come in Bangladesh.

Chief Representative of JBIC in Dhaka Yasuo Fujita and Chairman of the Centre for Development Research Bangladesh Dr Mizanur Rahman Shelly also addressed the merging ceremony.

Secretaries of different ministries, senior government officials, diplomats and NGO representatives were present.