Xi signs huge loans for Bangladesh
Print Edition
PRESIDENT Xi Jinping signed 27 loans and investment deals worth over US$24 billion during his visit to Bangladesh yesterday, Dhaka’s biggest foreign credit line to date that will help it build power plants, a seaport and railways.
Xi hailed what he called a “historical turning point” in relations with the South Asian nation after talks with Bangladesh Prime Minister Sheikh Hasina. The two leaders agreed to upgrade bilateral ties to a strategic partnership of cooperation.
Xi’s trip, the first by a Chinese president in 30 years, is expected to boost China’s involvement in infrastructure projects in Bangladesh.
During the meeting, Xi said the partnership the two sides forged in 2010 had yielded fruitful results, with bilateral cooperation advancing steadily in political, economic, cultural and security areas and in international and regional affairs.
China highly values its friendly ties with Bangladesh and will continue to offer support for its economic and social development, Xi said.
China plans to finance projects that will including a 1,320 megawatt power plant, and is also keen to build a deep seaport, Bangladesh junior finance minister M. A. Mannan said.
Among the other proposed projects are highways and information technology development. “Our infrastructure needs are big, so we need huge loans,” he said.
China’s TBEA signed a power grid deal worth US$1.6 billion with Dhaka Power, following a pact that Jiangsu Etern’s consortium signed on Thursday to strengthen Bangladesh’s power grid network that is valued at US$1.1 billion.
“We reached a consensus to work together in trade and investment and other key areas such as infrastructure, agriculture, energy and power, information technology and transportation,” Hasina said.
Xi said that since establishing diplomatic ties 41 years ago, China and Bangladesh have adhered to “the five principles of peaceful coexistence” and had each respected and supported the development path and domestic and foreign policies of the other side in accordance with national conditions.
Now in their pursuit of development, the two countries should be friends and partners that trust and support each other and advance practical cooperation to reap even richer fruits, so as to inject more impetus into bilateral ties, he added.
Hasina praised China’s economic achievements, and said Bangladesh was ready to strengthen cooperation with China while pursuing its “Sonar Bangla” dream of national strength and prosperity.
Bangladesh, she added, is willing to actively work with China within the framework of the Belt and Road Initiative and support the building of an economic corridor linking Bangladesh, China, India and Myanmar, to push forward development in fields such as electricity, energy, technology, agriculture, water resources, investment, transport infrastructure and connectivity.
China’s Belt and Road Initiative is aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.
Xi will travel to the western Indian state of Goa today for a summit of BRICS countries — Brazil, Russia, India, China and South Africa — and a one-on-one meeting with Indian Prime Minister Narendra Modi.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
