Bangladesh Signs USD 335 Million Loan Agreement with China to Modernise Sea Port Near Indian Border
- Bangladesh signed a $335 million concessional loan agreement with China to expand and modernize Mongla Port, the country’s second-largest seaport.
- The project will support the construction of two container terminals and dedicated cargo-handling yards to increase the port’s capacity and improve its infrastructure.
- The loan carries a 2% interest rate and will be repaid over 20 years, including a five-year grace period.
- The agreement follows Bangladesh’s cancellation of an Indian Economic Zone project near Mongla Port, amid Indian concerns about China’s regional presence.
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14 Articles
$336 Million Loan, 2% Interest: China Funds Bangladesh's Mongla Port Revamp
Alia Meher, joint secretary of the Economic Relations Division (ERD), and Fengjun Tian, assistant general manager of EXIM Bank of China, signed the agreement on October 10 on behalf of their respective governments, a Bangladesh government press statement said.
Bangladesh has signed a $335.78 million loan agreement with China. This money will be used to expand the Mongla Port, but China's growing presence near India has made this deal significant.
Bangladesh signs $335 million loan agreement with China to modernise sea port near Indian border
Bangladesh has signed a $335.78 million concessional loan agreement with China to expand and modernise its southwestern Mongla Port, located about 80 km west of the Indian border, according to a media report on Monday.
Bangladesh signs $335.78 million China loan to expand Mongla Port
Bangladesh has signed a USD 335.78 million concessional loan deal with China to expand and modernise Mongla Port. The agreement boosts Dhaka's port capacity while reviving concerns over Beijing's strategic footprint near India.
Dhaka: China's Export-Import Bank (Exim Bank) has approved a loan of $335.78 million (about Rs 2,800 crore) for the renovation of Bangladesh's Mongla port. The loan carries an interest rate of 2 percent...
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