Bangladesh signs an agreement with China for concessional financing to expand and modernise Mongla Port. Bangladesh’s Economic Relations Division (ERD) says the deal is signed by Alia Meher, joint secretary, and Fengjun Tian, assistant general manager of China’s Export-Import Bank (EXIM Bank), on behalf of their respective governments.
The financing is reported as about $335.78 million (roughly $336 million) and is described as a concessional loan. One outlet adds that the terms include a low 2% interest rate and a five-year grace period, while another specifies five years of grace without emphasizing the rate. The sources agree the funds support the Mongla Port revamp and that the agreement is concluded in October. Details on project scope and disbursement timing beyond the loan amount and broad purpose are not consistently provided across outlets.
