Chinese assurance to finance project

Deals likely after March

A loan agreement with the Chinese Exim Bank for financing different projects may be possible after March, said sources at the finance ministry. 
During Chinese president Xi Jinping’s Dhaka visit in November last year, China has agreed to provide funds for some crucial projects and inked deals with Bangladesh in this regard.
According to sources, the decision on the deals signed in November, will be taken in the next meeting of the politburo standing committee of the Communist Party of China in late February. 
Additional secretary of the Economic Relations Division (ERD), Shah Mohammad Aminul Haque, said the deals will be consecutively signed based on needs and depending on the negotiation.
The government is worried over the future of the Chinese financing project as there is no update from Beijing.
Bangladesh has urged China to accord the utmost priority to the Padma Bridge Rail Link Project in the economic cooperation programme between the two countries and accordingly arrange for the necessary funds for this project in 2017. 
Recently, Prime Minister’s Office (PMO) has sent a letter to the Chinese president, requesting quick funding for the project.
In November 25 last year, Prime Minister Sheikh Hasina had approved certain steps to expedite the signing of the credit deal arrangement for the project.
Sources said the Chinese side is yet to take any decision on whether the project would be financed under concessional loan or preferential loan.
During Xi Jinping’s visit, Bangladesh and China signed 27 agreements on several projects, including counter-terrorism, infrastructure development and energy. 

The total investment commitment was USD 36.75 billion.
China agreed to encourage its enterprises to extend cooperation on the 22 projects proposed by Bangladesh on power, ICT, river management, infrastructure and other areas on the basis of equality and mutual benefit.

Chinese assurance to finance project

Deals likely after March

A loan agreement with the Chinese Exim Bank for financing different projects may be possible after March, said sources at the finance ministry. During Chinese president Xi Jinpings Dhaka visit in November last year, China has agreed to provide funds for some crucial projects and inked deals with Bangladesh in this regard. According to sources, the decision on the deals signed in November, will be taken in the next meeting of the politburo standing committee of the Communist Party of China in late February. Additional secretary of the Economic Relations Division (ERD), Shah Mohammad Aminul Haque, said the deals will be consecutively signed based on needs and depending on the negotiation. The government is worried over the future of the Chinese financing project as there is no update from Beijing. Bangladesh has urged China to accord the utmost priority to the Padma Bridge Rail Link Project in the economic cooperation programme between the two countries and accordingly arrange for the necessary funds for this project in 2017. Recently, Prime Ministers Office (PMO) has sent a letter to the Chinese president, requesting quick funding for the project. In November 25 last year, Prime Minister Sheikh Hasina had approved certain steps to expedite the signing of the credit deal arrangement for the project. Sources said the Chinese side is yet to take any decision on whether the project would be financed under concessional loan or preferential loan. During Xi Jinpings visit, Bangladesh and China signed 27 agreements on several projects, including counter-terrorism, infrastructure development and energy. The total investment commitment was USD 36.75 billion. China agreed to encourage its enterprises to extend cooperation on the 22 projects proposed by Bangladesh on power, ICT, river management, infrastructure and other areas on the basis of equality and mutual benefit.