BNP urges no loan deal with India
Fri, Aug 6th, 2010 8:02 pm BdST
Dhaka, Aug 6 (bdnews24.com)Main opposition BNP has called on the government not to sign the $1 billion credit line agreement with India.
"The disgraceful treaty that goes against our national interest is not acceptable to us," BNP standing committee member M K Anwar said at a news conference on Friday.
The agreement is scheduled to be signed with the Export-Import Bank of India on Saturday in presence of India's finance minister Pranab Mukherjee. New Delhi will route the credit line, the one-time single largest aid package for any other country, through the state-owned Exim Bank.
Anwar also called on the government to discuss the agreement in the parliament, make it public and organise an open national debate over it.
"The government will implement 17 projects in the interest of India with the loan. Of them, one is building roads, railways and land ports for India to facilitate their use of Bangladesh as a corridor," he said.
"India will have Bangladesh government built the infrastructures with the money, which our people will pay as tax," he continued.
Indian prime minister Manmohan Singh announced the loan package in January during prime minister Sheikh Hasina's official visit to New Delhi.
Anwar also claimed that Export Import Bank of India is a private bank and so it is disgraceful for Bangladesh to sign an agreement with the bank. Exim Bank, India's primier export finance institution is in fact owned by the government and it extends lines of credit to foreign governments and institutions.
Replying to a query, he threatened to launch movement if the deal is inked. "We are formally protesting against the agreement and will launch movement if the agreement is signed."
"The interest of the loan is too high and is attached with hard conditions and the repayment time is also rather short," he said.
"The government is taking the loan from India with interests seven times more than that the World Bank and the Asian Development Bank charge," he added.
"The government is taking the loan on 1.75 percent interest rate from the Exim Bank. In addition, it will have to pay 0.5 percent commitment fees to the bank."
"India has also attached a condition for payment of 0.2 percent fines in case of Bangladesh failing to repay the loan within 40 years." The senior BNP leader, however, welcomed Mukherjee's visit, who is arriving on Saturday.
"Not enmity, we want an honest and good neighbourly relations with India on the basis of mutual respect and sovereign equality."
BNP standing committee member Nazrul Islam Khan, advisory council member Amir Khasru Mahmud Chowdhury, among others, were present at the conference.
BNP urges no loan deal with India | Politics | bdnews24.com
Fri, Aug 6th, 2010 8:02 pm BdST
Dhaka, Aug 6 (bdnews24.com)Main opposition BNP has called on the government not to sign the $1 billion credit line agreement with India.
"The disgraceful treaty that goes against our national interest is not acceptable to us," BNP standing committee member M K Anwar said at a news conference on Friday.
The agreement is scheduled to be signed with the Export-Import Bank of India on Saturday in presence of India's finance minister Pranab Mukherjee. New Delhi will route the credit line, the one-time single largest aid package for any other country, through the state-owned Exim Bank.
Anwar also called on the government to discuss the agreement in the parliament, make it public and organise an open national debate over it.
"The government will implement 17 projects in the interest of India with the loan. Of them, one is building roads, railways and land ports for India to facilitate their use of Bangladesh as a corridor," he said.
"India will have Bangladesh government built the infrastructures with the money, which our people will pay as tax," he continued.
Indian prime minister Manmohan Singh announced the loan package in January during prime minister Sheikh Hasina's official visit to New Delhi.
Anwar also claimed that Export Import Bank of India is a private bank and so it is disgraceful for Bangladesh to sign an agreement with the bank. Exim Bank, India's primier export finance institution is in fact owned by the government and it extends lines of credit to foreign governments and institutions.
Replying to a query, he threatened to launch movement if the deal is inked. "We are formally protesting against the agreement and will launch movement if the agreement is signed."
"The interest of the loan is too high and is attached with hard conditions and the repayment time is also rather short," he said.
"The government is taking the loan from India with interests seven times more than that the World Bank and the Asian Development Bank charge," he added.
"The government is taking the loan on 1.75 percent interest rate from the Exim Bank. In addition, it will have to pay 0.5 percent commitment fees to the bank."
"India has also attached a condition for payment of 0.2 percent fines in case of Bangladesh failing to repay the loan within 40 years." The senior BNP leader, however, welcomed Mukherjee's visit, who is arriving on Saturday.
"Not enmity, we want an honest and good neighbourly relations with India on the basis of mutual respect and sovereign equality."
BNP standing committee member Nazrul Islam Khan, advisory council member Amir Khasru Mahmud Chowdhury, among others, were present at the conference.
BNP urges no loan deal with India | Politics | bdnews24.com