• Tuesday, June 18, 2019

BD eye's $1.7 b chinese loan for power project

Discussion in 'Bangladesh Defence Forum' started by sbmc27, Jun 12, 2019 at 2:30 AM.

  1. sbmc27

    sbmc27 FULL MEMBER

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    BD eyes $1.7b Chinese loan for power projects
    PM likely to visit Beijing on July 1-4
    Mir Mostafizur Rahaman |Published: June 11, 2019 09:41:01 | Updated: June 11, 2019 12:57:51

    [​IMG]Picture used for illustrative purpose only

    Bangladesh is set to sign at least two loan agreements involving US$ 1.7 billion for two power grid projects during the upcoming visit of Prime Minister (PM) Sheikh Hasina to China.

    "So far, the China visit is scheduled on July 1-4," competent sources said.

    During the visit, the PM will meet Chinese President Xi Jin Ping, and the loan deals will be signed in presence of both the leaders, high officials told the FE on Monday.

    On Sunday, Sheikh Hasina told a press briefing that she will visit China in July, but did not disclose the date.

    Beijing is eager to welcome Prime Minister Sheikh Hasina, Chinese Ambassador Zhang Zuo told the FE last week.

    The number of projects with Chinese loan may increase, as the line ministries concerned are still brushing up details of the PM's visit. Funding of eight other projects, for which China has pledged support, is pending, the officials added.

    The total amount involving these projects is around $5.0 billion, a senior official of the Economic Relations Division (ERD) told the FE on Monday.

    "We are interested to sign deals for at least two projects during the visit. These are - Expansion and strengthening of power sector network under DPDC area, worth $1.1 billion, and Power grid network strengthening project under PGCB, worth $690.30 million," a senior official of the ERD said.

    Chinese EXIM Bank earlier wanted to provide the loan as commercial credit at an interest rate of 4.5 per cent. But, now it has finally agreed to provide the fund as concessional loan and preferential buyer's credit, for which Bangladesh has to pay 3.0 per cent interest on an average.

    Apart from these two projects the other pending projects are - Establishment of six full-fledged TV stations of Bangladesh Television; Balancing, modernisation, rehabilitation and expansion of the public sector jute mills under the BJMC; Establishment of digital connectivity; Dhaka-Ashulia elevated expressway; Chinese economic and industrial zone; Conversion of MG railway track into DG railway track in Akhaura of Sylhet section of Bangladesh Railway; Rajshahi WASA surface water treatment plant, and Construction of double line (DG) in Joydevpur-Ishwardi section.

    Agreements for 28 projects were signed during the Chinese president's visit to Bangladesh in October 2016.

    The PM's visit to China is seen as a crucial one against the backdrop of the Rohingya crisis. Sheikh Hasina said she will discuss the issue with the Chinese president.

    mirmostafiz@yahoo.com
     
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  2. mmr

    mmr FULL MEMBER

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    Didn't just few weeks our BAL minster said no more loan from China. Bunch of jokers. Long live BAL STRONK self sufficiency in financing any project.
     
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  3. Nilgiri

    Nilgiri ELITE MEMBER

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    Certain idiots will talk big here...but in the end the reality shows again.

    Look at all the countries lining up as usual (Bangladesh is doing such a huge favour to the world)...and BD picks China from all the suitors after doing a deep, professional, transparent CBA analysis....also helping expressing its gratitude for its recent military and economic sanction against Myanmar!

    Yes lot of choices, lot of results.

    @bluesky @Dungeness
     
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  4. UKBengali

    UKBengali ELITE MEMBER

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    Nope all the minister said was that BD did not like the Chinese attempt to increase the interest rate on the presumed soft loans and would not be interested in taking loans at higher rates. Now that China has agreed to the lower rate, BD will take the loan.:D

    If you care to look at how BD infrastructure projects are being financed you would see the 4 billion US dollar Padma Bridge being solely financed by BD and a lot of the other ones having a much higher percentage of BD finance than before. Also we are seeing huge FDI into the power sectors from China and others like USA and Germany.

    BD has a lot more choices than before and this is purely a commercial mutually beneficial transaction between BD and China.
     
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  5. bluesky

    bluesky SENIOR MEMBER

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    No, no, this loan has been arranged by @Black_cats and @UKBengali. They may have already visited China to beg it on behalf of the goB. But, reading their many superior posts I was almost believing that it is China that is pushing loans to a rich BD.

    China is bad because it charges interest when these two STRONKS love BD to seek free Chinese and Japanese alms for every project.

    @Homo Sapiens, you see China is very bad. It is lending money to an ingrate BD. Is not it guys like you who have been brainwashed in the Chinese concentration camp to take this loan?

     
    Last edited: Jun 12, 2019 at 4:50 AM
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  6. Nilgiri

    Nilgiri ELITE MEMBER

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    BD is just doing a big favour for China, Japan and whomever else. They'd be losing money without the BD miracle.

    Its as simple as give BD a wad of cash and the return is the best thing ever you can find in the world. BD govt is just that good!
     
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  7. Dungeness

    Dungeness SENIOR MEMBER

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    Chinese should be grateful for GoB giving them this golden once-in-life-time opportunity.

    By the way, why Democratic Bangladesh would even award this highly sought after opportunity to this big-bad-evil-commie-human-rights-abuser?
     
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  8. bluesky

    bluesky SENIOR MEMBER

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    @mb444, @UKBengali, @Homo Sapiens, and @Black_cats, all these geniuses should ask the rich BD govt to extend loans to a poor China to build another bridge over the Yellow River. They should also do similar things to Japan. BD will become another rich country with the interest money it will receive from these two countries.

    However, I am worried about one thing, that is the depreciation of dollar value. Will the interest payment from China and Japan to BD be enough to cover the depreciation of the dollar? I am a little worried. Only these geniuses of BD can answer it.
     
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  9. mb444

    mb444 SENIOR MEMBER

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    One can be a genius but one would still be unable to answer the musing of an imbacile. Please seek help.... you have gone full retard.

    Your desperate need for attention is embarrassing......please stop tagging me.
     
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  10. Microsoft

    Microsoft FULL MEMBER

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    The power of BD... forcing China to give them loans for infrastructure developments.
     
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  11. fallstuff

    fallstuff SENIOR MEMBER

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    Your trolling skills are so elementary !

    Here is a great fake Confucius quote for you, " Man who lives in glass house should change clothes in basement."

    China has not stopped doing business with big bad evil USA.

    Moral of this post : Money doesn't have any color on it, commie money is still money !
     
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  12. mmr

    mmr FULL MEMBER

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    Huge FDI??? Indian FDI is 45 billion dollar and incressing....Vietnam is 15 I think. BD Is barely 3 billion....#BAL STRONK
     
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  13. Homo Sapiens

    Homo Sapiens SENIOR MEMBER

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    Financing such big projects from internal resources is something which can not be done overnight. But Bangladesh is rapidly increasing it's share to finance the big projects. In the upcoming budget, mega projects will get 360 billion Taka from govt.'s own resources. Few years ago, we did not have this capability. This amount of money will continue to rise in coming years lessening the dependency on foreign loan.
     
    Last edited: Jun 12, 2019 at 8:45 AM
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  14. bluesky

    bluesky SENIOR MEMBER

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    Are not you talking about your status of mind whereby you criticize donor countries when your own country is unable to produce even the sewing needles? Why you guys have to criticize others when you are unable to do things? By reading your posts I now believe BD remains underdeveloped only because its citizens are just your copy. Do not embarrass BD by sending stupid posts all the time.
     
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  15. mmr

    mmr FULL MEMBER

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    The problem is we have very low tax to GDP ratio. Only 9 percent I think. So people need to start paying taxes there is no free lunch. We need to make filing tax easier. And digitalized the process. Other wise bd has to keep asking for money from outside for ever.
     
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