City Governance Project
- The government yesterday launched a Tk2,943 crore project to deliver better public services in five city corporations – Rangpur, Narayanganj, Comilla, Gazipur and Chittagong.The project titled “City Governance Project” aims at strengthening administrative capacity of the city governments, improving governance, promoting good environment and quality of life, and creating economic opportunities. Of the total cost, Tk2,397.69 crore will be provided by Japan International Cooperation Agency (JICAa) and the remaining Tk545,31 crore will come from the public coffers. The project is expected to be completed by June 2020, and in June this year, the government signed the agreement with JICA..According to the agreement, the concessional loan carries a mere 0.01% annual interest rate with a 40-year repayment period and a 10-year grace period. The project is one of the five projects involving $1.18bn to promote socio-economic development in both urban and rural areas, and to provide solid foundation for the BIG-B (Bay of Bengal industrial growth belt) initiative proposed during bilateral talks between the prime ministers of Bangladesh and Japan. .