Chinese lead Padma race

[idune]

The Chinese proposal should still be considered however.

Are you aware of an Chinese proposal that being made after World Bank loan cancellation? Why dont you post it?

 

[Mattrixx]

Everything including the Malaysian proposal and internal sources? Those are not feasible.

The Chinese proposal should still be considered however.

I had a pale on my face when I first heard of malayasian proposal. Never that kind of proposal is accepted.
India wouldnt invest that much as there were big drama with their $1bl loan. They can give only slight loan.
Chinese offer seems best. But with that talks of internal funding is going on.
On these big mess ppl r confused

 

[Zabaniyah]

Are you aware of an Chinese proposal that being made after World Bank loan cancellation? Why dont you post it?

Yes, I'm aware.

The Chinese proposal came up on July 7th, 2012. And the World Bank cancelled the fund on June 29th 2012. On September 21st, 2012; WB...um...."revived" the thing

Those are the exact dates. I know them since I had to do a thorough research on it for my line of work.

Of-course, we all know the WB team weren't satisfied with the Bangladesh Government's response in the end. That is because Hasina places more value over loyalty than merit, this is a classic hallmark of the party. They'll never learn to be pragmatic.

Another thing you may want to know is how they actually got trail of corruption:
One of their agents got to notice one of Moshiur's dairy where his notes were. They contained rough details as to what percentages of the fund he and Hossain would get out of the project, along with the possibility of other names. It was vague, and not exactly solid formal evidence; but they got hold of it.

To be honest, I am not very optimistic about this thing under the current government. They are just trying to be upbeat just to grab a hold on votes.

 

[idune]

Yes, I'm aware.

The Chinese proposal came up on July 7th, 2012. And the World Bank cancelled the fund on June 29th 2012. On September 21st, 2012; WB...um...."revived" the thing

Those are the exact dates. I know them since I had to do a thorough research on it for my line of work.

Of-course, we all know the WB team weren't satisfied with the Bangladesh Government's response in the end. That is because Hasina places more value over loyalty than merit, this is a classic hallmark of the party. They'll never learn to be pragmatic.

Another thing you may want to know is how they actually got trail of corruption:
One of their agents got to notice one of Moshiur's dairy where his notes were. They contained rough details as to what percentages of the fund he and Hossain would get out of the project, along with the possibility of other names. It was vague, and not exactly solid formal evidence; but they got hold of it.

All you stated are information available in public domain. As for my question, I was asking if Chinese company/govt made proposal after the latest cancellation? NOT the one made after original WB cancellation. Hope my question is more clear now and since this is in your line work perhaps you can shed light on Chinese loan status after latest cancellaion of world Bank loan.

 

[Zabaniyah]

All you stated are information available in public domain. As for my question, I was asking if Chinese company/govt made proposal after the latest cancellation? NOT the one made after original WB cancellation. Hope my question is more clear now and since this is in your line work perhaps you can shed light on Chinese loan status after latest cancellaion of world Bank loan.

There is NO second Chinese proposal. There was just one! OMG, what are people discussing here?

There's no evidence stating that the Chinese are going to cancel it.

According to the Chinese proposal, the Government would have to ensure a sovereign guarantee for the loan.

The Chinese company also stated that it would save some money from the $2.9 billion and the Government must allow them to repatriate the fund to China.

The previous part clearly implies that the Chinese company would operate the bridge for some period of time after which it’ll be transferred to the government. Exactly what that time period is has not been publicly stated as of now.

Let's just be clear here, no one would invest in such a large and complex project without any returns.

Interestingly, the government had been negotiating with the Chinese ever since February 2012.
Bridge Div reviews Chinese offer to build Padma Bridge Sunday

It simply cannot take this long to actually make a decision for financing. They are not telling the public everything over this. Seems more of an upbeat attitude with a fake sense of enthusiasm if you ask me.

 

[idune]

There is NO second Chinese proposal. There was just one! OMG, what are people discussing here?

There's no evidence stating that the Chinese are going to cancel it.

According to the Chinese proposal, the Government would have to ensure a sovereign guarantee for the loan.

The Chinese company also stated that it would save some money from the $2.9 billion and the Government must allow them to repatriate the fund to China.

The previous part clearly implies that the Chinese company would operate the bridge for some period of time after which it’ll be transferred to the government. Exactly what that time period is has not been publicly stated as of now.

Let's just be clear here, no one would invest in such a large and complex project without any returns.

Interestingly, the government had been negotiating with the Chinese ever since February 2012.
Bridge Div reviews Chinese offer to build Padma Bridge Sunday

It simply cannot take this long to actually make a decision for financing. They are not telling the public everything over this. Seems more of an upbeat attitude with a fake sense of enthusiasm if you ask me.

Question was very simple, what is the status of Chinese loan. A simple answer could have been - loan is still available if Bangladesh wish to pursue. There was no need to go in circle.

At any case,
What you described it seems Chinese proposal is a variation of Malaysian proposal in a sense, Chinese company will operate the bridge and collect toll. Given that they will have to recover loan and make profit, toll will be hefty over relatively shorter period.(as any business will dictate for quick cost recovery and profit).

Where as with WB loan, operation of the bridge would have been under Bangladesh and we could have collected less amount as toll and recover cost over longer period of time.

After Awami league regime corruption and subsequent coverup acts, regime does not seem ready to pursue Chinese loan yet or loan not available. Because as of yesterday flip flop finance minister requested World Bank to divert Padma Bridge fund in other development projects so Awami League regime can withdraw fund from other projects and use it for Padma Bridge. That is just hilarious way of submitting back to World Bank.

 

[idune]

BD to propose WB to divert $1.2b Padma loan to other projects

Published : Monday, 11 February 2013

FE Report

Bangladesh will propose to the World Bank (WB) to divert the scrapped $1.2 billion fund, which was supposed to be disbursed for constructing Padma Bridge, to other development projects now being implemented with the Bank aid.

Finance Minister AMA Muhith made the announcement on Sunday, saying, "The proposal of fund diversion will be formally placed during the upcoming meeting to be held between the WB President and myself in Washington sometime in the current month".

"This is our money ($1.2 billion). Now we will discuss with the WB on how to use the fund," Muhith told reporters at the Ministry of Finance (MoF) after he held discussion with visiting Indian foreign secretary Ranjan Mathai.

"We have many projects in which we can use this money", he said.

Muhith last month wrote a letter to the Bank's President seeking appointment.

On financing Padma Bridge with the Indian fund, the finance minister said, "India had no reservation if we use $200 million out of its promised $1.0 billion line of credit in constructing Padma Bridge.

"We will receive the first installment of the grant -- US$ 50 million out of $200 million soon," he told reporters at his ministry.

He said now the government is examining the proposals of China and Malaysia to construct the largest bridge of the country.

Besides, Muhith said he is 'regularly discussing with ADB, JICA and IDB to bring them back to the Padma project."

Financial Express :: Financial Newspaper of Bangladesh

 

[Zabaniyah]

Question was very simple, what is the status of Chinese loan. A simple answer could have been - loan is still available if Bangladesh wish to pursue. There was no need to go in circle.

The exact status is unknown. Only the government high-ups have access to that kind of information.

Whatever I've said is publicly available information. The original thread's article misses out many critical information about the Chinese proposal. They are already available out there. Media flutter(?)

At any case,
What you described it seems Chinese proposal is a variation of Malaysian proposal in a sense, Chinese company will operate the bridge and collect toll. Given that they will have to recover loan and make profit, toll will be hefty over relatively shorter period.(as any business will dictate for quick cost recovery and profit).

Where as with WB loan, operation of the bridge would have been under Bangladesh and we could have collected less amount as toll and recover cost over longer period of time.

After Awami league regime corruption and subsequent coverup acts, regime does not seem ready to pursue Chinese loan yet or loan not available. Because as of yesterday flip flop finance minister requested World Bank to divert Padma Bridge fund in other development projects so Awami League regime can withdraw fund from other projects and use it for Padma Bridge. That is just hilarious way of submitting back to World Bank.

Agreed.

And of all ministers, I hate that guy the most

 

[scholseys]

what race! the author of this article is a highly creative bloke straight from the propaganda house of Bangladesh Awami League.