Dhaka, April 23 -- The government on Tuesday signed a supplementary loan agreement with the Korea Eximbank on a maritime project involving USD 6.26 million.
The project is called "Establishment of Global Maritime Distress and Safety System (GMDSS) and Integrated Maritime Navigation System (IMNS) Project.
The money comes from Economic Development Cooperation Fund (EDCF), according to a press release.
The interest rate of Loan will be 0.01% and repayment period will be 40.5 years (including 15.5 year grace period).
It is to be mentioned that the main loan agreement amounting to USD 37.50 million of the project was signed earlier.
Mirana Mahrukh, additional secretary, Economic Relations Division and Kim Kisang, director general, Korea Exi...