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Japan's development cooperation with Bangladesh has been transformed over the years to enhance connectivity in terms of physical, institutional development and people-to-people contact emphasising regional vitalisation, a Japanese professor has said.
In continuation of the transformation, Bangladesh will be the first recipient of equity-based financing for development of special economic zones, he says citing it his country's new financing scheme.
Professor of Waseda University, Naohiro Kitano also says the Japanese model of development cooperation targets establishing 'long term commitment with trust' to benefit the people through an inclusive approach and human resource development.
The professor at the Global Centre for Science and Engineering, Faculty of Science and Engineering, delivered a lecture on Bangladesh-Japan Development Cooperation for Enhanced Connectivity in the city on Thursday.
Jointly organised by the Bangladesh Institute of International and Strategic Studies (BIISS) and the Japanese Embassy in Dhaka, the lecture was also addressed by BIISS Director General AKM Abdur Rahman. Foreign Secretary Md Shahidul Haque was also present.
Professor Kitano, who was also former Director of Japan International Cooperation Agency (JICA) Research Institute, said the Official Development Assistance (ODA) loan of Japan to Bangladesh started increasing after 2014.
The increase was attributed to facilitating the physical, institutional development and people-to-people connectivity to work on establishing the Bay of Bengal Industrial Growth Belt or BIG-B.
He said investments in the power and energy sector, construction of bridges, etc. in the Dhaka-Chattogram-Cox's Bazar corridor were aimed at facilitating industrial agglomeration within it and beyond to turn it into a regional node and hub of value chain.
The BIG-B initiative is a Japan-led development plan devised to accelerate industrial agglomeration along the Dhaka-Chattogram-Cox's Bazar corridor area and beyond, encompassing developing economic infrastructure, improving investment environment and fostering connectivity.
Under the initiative, the projects include construction of an ultra-super-critical coal-fired power plant, a new commercial port at Matarbari and three bridges over Shitalakhya, Meghna and Meghna-Gumti.
The Japanese Professor, however, emphasised a comprehensive holistic approach combining the land use plan as well as the transportation plan in the development process.
Referring to Japan's development after the World War II which is similar to that of Bangladesh, the professor said Bangladesh should learn from Japanese experiences of developing cities to avert future problems.
Bangladesh-Japan development cooperation is based on technical support, grant and financial assistance. The Japanese professor said that in recent years Japan was also providing support in the public-private partnership project development to engage the private sector and create conducive foreign direct investment atmosphere in special economic zones.
Emphasising the Japanese policy to ensure quality, efficiency and transparency in development projects, Mr Kitano said Bangladesh could consider the Japanese concept of developing Compact Cities for proper use of technology and human resources.
High officials of different government agencies including foreign and planning ministries as well as professors and students of different universities attended the lecture.