Japan Commits USD 1.06 Billion to Bangladesh Amid Political Turmoil
Japan pledges over USD 1 billion to Bangladesh for budget support, railway upgrades, and scholarships amid political unrest. Yunus, facing protests, emphasizes the need for reform before elections, igniting criticism from the BNP. The funding aims to bolster economic stability as calls for timely national elections intensify.
On May 30 in Dhaka, Japan has committed a substantial USD 1.06 billion to Bangladesh aimed at bolstering the country’s budget, upgrading its railways, and providing scholarships. This funding comes as Japan expresses unwavering support for the interim government led by Mohammad Yunus, amidst rising tensions and protests in the capital due to political disputes over election timelines and policies.
The financial support, officially documented in an exchange of notes, includes USD 418 million as a Development Policy Loan tailored to assist in Bangladesh’s economic reforms and climate resilience efforts. Furthermore, USD 641 million will be allocated for specific railway track enhancements while an additional USD 4.2 million is designated as a grant to facilitate human development scholarships, as reported by Yunus’ communication team.
During this notable visit, Yunus, who is on a four-day tour of Tokyo, witnessed the signing of the funding agreement. Japanese Prime Minister Ishiba Shigeru emphasized Tokyo’s commitment to supporting Yunus’ administration in its reform initiatives and efforts toward a peaceful transition of power in Bangladesh. The two leaders also expressed a mutual vision for a Free and Open Indo-Pacific (FOIP), a strategy intended to promote peace and prosperity across the region.
This agreement arrives at a sensitive time when Yunus is encountering opposition from the Bangladesh Nationalist Party (BNP), led by former Prime Minister Khaleda Zia. Protests have unfolded in Dhaka, with the BNP staging a significant youth rally earlier in the week, urging Yunus to expedite the upcoming national elections, which are anticipated by December. Tarique Rahman, the acting chairman of BNP, asserted that preparations for the elections need to commence without delay due to the ruling administration’s stalling tactics.
In response to the protesters’ demands at the Nikkei Forum in Tokyo, Yunus remarked, “Just one particular party wants the national election to be held in December this year.” He reflected on his role following the mass protests that led to the ousting of Prime Minister Sheikh Hasina’s government in August 2024 and insisted on the importance of completing thorough reforms before elections are held. He indicated that these reforms require additional time and could wait six months for adequate implementation.
Political analysts caution that the interim government’s reform initiatives could be in jeopardy if the next elected government chooses to abandon them. The BNP reacted vigorously to Yunus’s remarks on international grounds, with senior committee member Mirza Abbas condemning Yunus for what he termed as “defaming the BNP” while abroad. He emphasized that Yunus should feel ashamed of his comments against his own country.
As political tensions simmer, Prime Minister Hasina remains in India while many members of her former administration are incarcerated or have fled, facing accusations of human rights violations during last year’s protests.
Japan’s commitment of USD 1.06 billion to Bangladesh emphasizes international support for reform amid ongoing political unrest. The interim government’s ability to implement these changes effectively remains uncertain, especially with the pressure from the BNP for timely elections. Yunus’s comments indicate a deliberate approach to reforms, but his stance has provoked further criticism from political opponents. Thus, the unfolding political landscape may significantly impact the future of Bangladesh’s governance and civil rights as the nation navigates these complex challenges.
Original Source: www.dailyexcelsior.com
