Govt seeks $2.32bfrom China for 6 priority projects

FHM Humayan Kabir The government has recently sought US$ 2.32 billion financial support from China for Bangladesh's six priority projects, officials said. Economic Relations Division (ERD) officials said the government has recently selected six priority projects out of 28 schemes. "We sought $ 2.32 billion from China as the fund is imperative to implement six important projects," an ERD official told the FE. Dhaka in August 2009 sought a total of $ 5.14 billion financial assistance from Beijing for implementing its total 28 projects. Later, it sent another two projects for Chinese funding. Meanwhile, Beijing has already assured Dhaka of $ 560 million credit for setting up the Shahjalal fertiliser factory, $ 211 million credit for introduction of 3G telecom network and expansion of 2.5G network and $ 91.46 million assistance for constructing the 2nd Meghna Bridge on the Dhaka-Chittagong highway. Among the six priority projects, the government has sought $ 290 million credit for installing Pagla-Keraniganj water treatment plant, $ 133 million for ICT development, $ 290 million for constructing Jahangir Gate-Rokeya Sarani tunnel, $ 1.46 billion for capital river dredging and $ 60 million for Bekutia bridge construction in Pirojpur. "As per requirement of the Chinese government, our ministries have selected six priority projects out of their 30 schemes, and already sent the same to Beijing seeking investment," a joint secretary at the ERD said. Since China would not be able to bankroll all the 30 projects at a time, the lender wanted to know which projects are more important at this moment, he added. The ERD official said China has sought some documents for a couple of schemes among the priority project list for consideration of their investment. "We have already sent some of their requirements. We are hopeful of getting their support. If we get green signal from the lender, we will go for negotiations to finalise the loans," the joint secretary said. In July 2009, a government team participated at a meeting of the Joint Economic Commission (JEC) of the two countries in Beijing and Dhaka sought $ 5.14 billion worth of assistance for implementing 28 projects. Both sides signed Agreed Minutes on Bangladesh's proposal on the projects and other issues. Bangladesh sought $ 579.21 million assistance to construct the second Padma bridge, $ 290 million to install Pagla-Keraniganj Water Treatment Plant, $ 121 million for North Dhaka Sewerage Treatment Plant and associated sewerage system and $ 125.36 million for setting up the second Meghna bridge on Dhaka-Chittagong highway. It also sought $ 1.4 billion assistance to implement the Ganges Barrage Project and $ 88.12 million for restoration of the flow of the Buriganga river and for a project for prevention of river pollution, $ 560 million for implementing the Shahjalal fertilsier factory. Some $ 600 million credit was sought for the Rooppur Nuclear Power Project, $ 130 million for national ICT infrastructure network, $ 210 million for construction of railway track from Dohazari to Cox's Bazar, $ 172 million for a railway bridge with provision of dual-gauge double-track over the Jamuna river, $ 289 million for Karnaphuli river tunnel, and $ 47.4 million for construction of Barapukuria 125 megawatt coal-fired thermal power station.