Japan and Bangladesh on Friday exchanged notes under which Tokyo will provide $1.063 billion to Dhaka in budget support, railway upgradation, and grants.

Of the total assistance, Japan will provide $418 million in Development Policy Loan for Bangladesh's economic reforms and climate resilience, Chief Adviser's Deputy Press Secretary Abul Kalam Azad Majumder told BSS.

Tokyo will also lend $641 million for the upgradation of Joydevpur-Ishwardi railway into a dual-gauge double rail track, and another $4.2 million in grants for scholarships.