The Japan International Cooperation Agency will invest $1.2 billion in the priority sectors including power generation in the next fiscal year, the planning ministry said yesterday quoting Jica's representative in Dhaka.
Bangladesh can become a middle-income country by 2021, but the planning ministry and the planning commission will need to speed up implementation to achieve that, Mikio Hataeda, Jica's chief representative in Dhaka, said at a meeting with Planning Minister AHM Mustafa Kamal.
The government also needs to pick and prioritise projects for faster implementation, Hataeda said.
Currently, the sheer number of projects—1,200—causes delays and increases costs, he said.
The government is prioritising power generation, infrastructure development, education, women's empowerment, Kamal said.
Jica will provide technical assistance to implement a project to increase efficiency of the planning ministry and the commission, according to the statement. Jica will arrange a seminar on the agency's plan for Bangladesh in June.