Tuesday, November 1, 2016

Now China To Lend 24 Billion Dollar To Bangladesh

China will provide a heavy amount of loan worth Rs. 24 billion dollar To Bangladesh. The president of China Xi Jinping during his Bangladesh tour today has declared that China will sign off on loans worth over US$ 24 billion with Bangladesh. This is biggest ever foreign credit sanctioned on the improvement of the capital of Bangladesh Dhaka. As per the sources Bangladesh will utilize this huge amount on the development of their power plants, seaports and expansion of railways.

Xi’s is the first Chinese president to visit Dhaka in last 30 years. This is happening when India is shoving its own investments in Bangladesh. Till date Bangladesh is being considered as one of the favorable zone of India’s prodigality.


Initially India in collaboration with Japan has been providing debt to Bangladesh at minimum rates of interest. With this inflow Bangladesh built a power complex and a port. This movement leads Bangladesh to set their position in the power game in the country of 160 crore population. With the influence of the seaports Bangladesh will cite their command on the entire Bay of Bengal route. The junior finance minister of Bangladesh Mr. MA Mannan has told media, ‘’China plans to finance around 25 projects including a 1320 megawatt power plant and also a  deep sea port is on their investment list.’’ According to the finance ministry Xi’s Bangladesh visit will bring a positive impact on the entire Bangladesh’s economy. From Bangladesh’s perspective their huge infrastructure demands massive foreign grants for the country’s overall betterment.


Jiangsu Etern Co Ltd an eminent Chinese company signed a deal worth $1.1 billion to reinforce the power grid network in Bangladesh. Beijing is keen on developing a deep seaport at Sonadia which has been staved off for last five years. All these taking place when Indian PM initiated cordial relationship with the neighbor countries by offering them important shares in India’s fast-growing economy. Last year Modi announced $2 million financial aid to Bangladesh but China swiped it all with the huge investment amount.

"One Belt, One Road"- this is the initiative of Chinese Govt. which has been supported by Bangladesh to improve the trade transport connectivity across Asia and Europe. Experts say with this progression China will have major influence over pan Asian economy.


By Educa India- The leading education portal in India where apart from searching and selecting educational institution people can post their CV to get noticed by the hierarchies.




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