The interest rate on loans from the Japan International
Cooperation Agency (JICA), once considered one of the cheapest sources of
financing for Bangladesh, has risen to 3.05 percent. The agency has sole
control at every stage, including the appointment of contractors. The
Bangladesh government can neither stop the ongoing projects midway nor continue
the loans without concern. A few days ago, revised proposals for two metro rail
projects were approved with JICA loans. However, many ministe...
