S Korea to offer $100-mn loan to Bangladesh in FY25

The Bangladesh government signed a loan agreement with Korea Eximbank yesterday in this regard, a statement issued by the former’s economic relations division (ERD) said.

ERD said the loan-linked programme scope includes strengthening social resilience and enhancing the inclusiveness and responsiveness of social protection in Bangladesh.

The loan will bear a simple annual interest rate of 1 per cent, while the maturity period will be 25 years, including a grace period of seven years.

ERD wing chief and additional secretary Mirana Mahrukh and executive director of Korea Eximbank Hwang Kiyeon signed the agreement.

Last December, South Korea provided $90 million in budget support.

Fibre2Fashion News Desk (DS)