Bangladesh to strike $4.0b deal with Korea
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Dhaka, Jan. 28 -- South Korea is poised to emerge as a major aid destination for Bangladesh as Dhaka may sign a US$4.0-billion five-year cooperation framework with Seoul within months, amid global financial crunch.
An 'Economic Development Promotion Facility (EDPF)' framework will be penned to get official development assistance (ODA) in priority areas from 2023 to 2027, Economic Relations Division (ERD) officials said Friday.
"We're expecting to sign some $4.0-billion cooperation framework within two months or three with Korea. After the deal, Korea will be one of the key bilateral donors to Bangladesh," said a senior ERD official about the latest development in search for funds to replenish the country's foreign-exchange reserves.
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