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Economy

Japan promotes energy-saving devices in Bangladesh

Efficient gear to offset rising fossil fuel use and preserve competitiveness

TOKYO -- The Japan International Cooperation Agency is encouraging greater use of energy-saving equipment in Bangladesh through a low-interest loan program.

The program allows companies that buy specified equipment, such as textile machinery, to get low-interest loans at around 4% compared to market rates of 9-15%. February saw three deals. About 10 other deals are also under discussion. Orders worth more than 5 billion yen ($47.1 million) are expected for the final tally.

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