Friday, June 7, 2013

Bangladesh has entered into a $300 million framework loan arrangement with South Korea


Under the “Framework Arrangement concerning Loans from the Economic Development Cooperation Fund (EDCF)”, Seoul will provide the money in different projects in Bangladesh during 2012-2014 period.

South Korean Ambassador Lee Yun-young and Bangladesh’s Economic Relations Division Secretary Md Abul Kalam Azad signed the agreement in Dhaka on Thursday.

According to the Korean embassy, in the first phase of the EDCF implementation, wireless broadband network for ‘Digital Bangladesh’ project worth $77million will be launched shortly.

Bangladesh is one of the major Korean development funds recipients.

This year marks the 40th anniversary of the diplomatic relations between the two countries.

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