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    Bangladesh signs a $ 100 million loan agreement with South Korea

    South Korea will provide Bangladesh with a $ 100 million concession loan from the Economic Development Cooperation Fund (EDCF) to help Bangladesh recover from the pandemic. EDCF is a South Korean development funding program to support socio-economic development in developing countries. The amount will be paid by the Export-Import Bank of Korea this month.

    Mohammad Shahriar Kader Siddiky, Bangladesh’s additional secretary for economic affairs, and Kim Tae Soo, executive director of the Bank of Korea, have recently signed an agreement in this regard.

    Bangla Media reports that the loan has a maturity of 40 years, including a 15-year grace period.

    South Korea will provide Bangladesh with a $ 100 million concession loan from the Economic Development Cooperation Fund (EDCF) to help Bangladesh recover from the pandemic. EDCF is a South Korean development funding program to support socio-economic development in developing countries. The amount will be paid by the Export-Import Bank of Korea this month.

    South Korea has already provided a $ 50 million EDCF loan in December 2020 to support Bangladesh’s efforts to combat the COVID-19 pandemic. This is the second clause of this type of concessional loan.

    Bangladesh is the world’s second largest recipient of EDCF loans in total.

    So far, South Korea has funded 24 Bangladesh development projects totaling $ 1.2 billion through EDCF.

    Fiber2Fashion News Desk (DS)

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    Bangladesh signs a $ 100 million loan agreement with South Korea

    Source link Bangladesh signs a $ 100 million loan agreement with South Korea

    The post Bangladesh signs a $ 100 million loan agreement with South Korea appeared first on Eminetra.

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