It is turning out Bangladesh buying six dredgers (among other projects) from China with Chinese loan
China likely to provide $638 million loan
The Chinese government is likely to provide US$638 million loan to the government for procurement of vessels and upgradation of Cox's Bazar airport and the telecommunications networks, officials said Saturday.
China has already completed negotiations for the credit to implement three development projects, officials of the Economic Relations Division (ERD) said.
"We are hopeful of signing the loan deal by October this year. It will be one of the largest loan deals between the government of China and that of Bangladesh," said a Joint Secretary of the ERD.
The Civil Aviation Authority will upgrade the Cox's Bazar airport to an international standard, taking $225 million loan from China.
The Bangladesh Shipping Corporation (BSC) will borrow $240 million to import six dredgers in a bid to enrich the fleet of the state-owned marine transport provider.
The Bangladesh Telecommunication Company Limited (BTCL) will upgrade its network to the fourth generation of communication technology, by borrowing funds, worth $173 million, from the government of China.
An ERD official said the government agencies will complete the commercial contract first with the Chinese contractor for the works. "Then we will sign the loan deal."
Full report:
China likely to provide $638 million loan | Priyo News
