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China grants 12.3b RMB, $3.9b for 11 projects in BD, says envoy

Belt and Road programme


FE Report | May 09, 2019 00:00:00


China has so far granted 12.3 billion RMB in concessional loans and 3.9 billion US dollars in preferential buyer's credit for 11 projects under the Belt and Road programme in Bangladesh.

The interest rate ranges between 2.0 and 3.0 per cent.

Chinese Ambassador in Dhaka Zhang Zuo disclosed this on Wednesday at a press briefing on the just-concluded Belt and Road Forum.

The Belt and Road funding is aimed at mutual benefit for both China and partner countries, he said.

Responding to a question, the envoy said China considers the Padma Bridge project a dream project for Bangladesh and it is eager to complete the project work as soon as possible.

On trade relations, he said China never wants to see trade imbalance with Bangladesh.

"We want to have more balanced trade with Bangladesh and as an ambassador to this country, I always ask Chinese companies to buy more products from Bangladesh," he said.

He also mentioned that China wants to work together with all the partner countries of BCIM to ensure successful implementation of the BCIM corridor, as this is also a key element in materialising the Belt and Road initiative in this region.

About China's policy towards India, the envoy quoted top leadership of China as saying that if China and India work together, it will not be one plus one equal to two, rather it will be eleven or more than that.

On Rohingya issue, Mr Zuo said China has been playing a constructive role to resolve the Rohingya crisis since the very beginning.

China believes that the repatriation of Rohingya refugees can be a part of the solution, but the main solution lies in the development of Rakhine state, he added.

And implementation of the BCIM corridor can contribute to the solution of the crisis, as it would bring about development of the Rakhine state, he noted.

About the criticism that the Belt and Road programme can be a debt trap for the partner country, he said the participants in the second Belt and Road Forum made it clear that the outcome of the projects would benefit the partner countries.

Moreover, a debt analysis committee will be formed to address the risk factors in the financial proposals under the Belt and Road programme, he said.

The Chinese ambassador also lauded the tourism attractions in Bangladesh and expressed China's willingness to develop the tourism sector of the country.

"President Xi Jinping has pointed out that we will work with all parties to refine the concrete and vivid details of the exquisite picture, and jointly promote high quality Belt and Road cooperation," he added.

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