Japan Pledges Over $1 Billion to Support Bangladesh Amid Political Tensions

Japan pledges $1.06 billion to Bangladesh for reform support amidst protests. The funding includes development loans, railway upgrades, and scholarships. Yunus faces electoral pressure from BNP, demanding elections by December, while insisting upon the need for broader reforms first.

DHAKA, May 30 — In a notable development on Friday, Japan pledged over $1 billion to Bangladesh amidst a backdrop of political tension. The commitment, totaling approximately $1.06 billion, aims to support budgetary needs, railway upgrades, and scholarships, all while reaffirming Japan’s backing for the government led by Mohammad Yunus amid growing protests over election policies.

The agreement included $418 million designated as a Development Policy Loan focused on economic reforms and climate resilience, an impressive $641 million for railway development, and around $4.2 million in grants for human development scholarships, according to Yunus’ press team. This financial support was formalized during Yunus’s four-day visit to Tokyo, with the signing of the updated notes occurring on the third day of his stay.

Japanese Prime Minister Ishiba Shigeru expressed strong support for Yunus’ interim government’s efforts, emphasizing collaboration aimed toward peaceful nation-building and reform initiatives in Bangladesh. The two leaders also shared talks surrounding a Free and Open Indo-Pacific (FOIP) strategy designed to promote regional stability and prosperity.

This financial backing emerges at a time when Yunus is contending with political unrest sparked by Khaleda Zia’s Bangladesh Nationalist Party (BNP) and others, demanding that national elections occur by December. The BNP recently hosted a sizable youth rally, mobilizing supporters to pressure Yunus regarding the electoral timeline. Tarique Rahman, the BNP’s acting chairman, called in virtually from London, urging immediate election preparations, criticizing the government for what he termed “delay tactics.”

Yunus addressed the ongoing criticisms during the Nikkei Forum in Tokyo, stating, “Just one particular party wants the national election to be held in December this year,” implying that the demand for early elections was not a widespread sentiment.

“I believe we should not leave the country with outdated institutions,” he emphasized, underscoring the importance of allowing time to solidify reforms. Interestingly, Yunus suggested a potential six-month extension before elections, arguing that thorough reforms take precedence.

Political analysts have opined that while reforms are necessary, the next government may either continue or discard these initiatives based on perceived relevance. This assertion has drawn ire from the BNP, whose senior member Mirza Abbas publicly criticized Yunus. “It is with deep regret that I say this — Dr. Yunus is sitting in Japan and defaming the BNP… he should be ashamed of speaking against his own country while abroad,” he argued.

In the geopolitical context, Prime Minister Hasina remains in India, while several members of her former Awami League government are either imprisoned or fled the country following accusations related to human rights violations during protests last year.

Japan’s commitment of over $1 billion to Bangladesh signals a strong international partnership amid domestic political strife. As the country moves toward reform-led initiatives under Yunus, pressure from the opposition for timely elections continues to mount. Yunus’ comments reflecting on necessary reforms suggest a potentially prolonged timeline for elections, which has drawn sharp responses from the BNP. Thus, the ongoing situation remains tumultuous, balancing reform, political pressures, and international relations.

Original Source: www.dailyexcelsior.com