Korea to provide $6.26m loan to Bangladesh, deal signed

Korea will provide a $6.26 million loan to Bangladesh under a supplementary agreement in the maritime sector. In this regard, a supplementary loan agreement on the "Establishment of Global Maritime Distress and Safety System (GMDSS) and Integrated Maritime Navigation System (IMNS)" Project amounting to $6.26 million from the Economic Development Cooperation Fund (EDCF) was signed between the government of Bangladesh and the Korea Eximbank.

Mirana Mahrukh, Additional Secretary of, Economic Relations Division (ERD) and Kim Kisang, Director General,of Korea Eximbank, signed the loan agreement on behalf of the government of Bangladesh and the Korea Eximbank respectively, said an ERD press release.