Bangladesh will seek billions of dollar funding support from China to implement dozens of its strategic development projects when Chinese President Xi Jinping visits Dhaka in the second week of October.
At the same time, it will also seek Chinese cooperation in the areas of trade, commerce, foreign direct investment, defense and blue economy.
“We will seek financial assistance to the tune of US$20 billion from China to execute at least 25 mega development projects. We will make the proposal during the discussion between Chinese President Xi Jinping and Bangladesh Premier Sheikh Hasina,” a senior External Resource Division (ERD) official told The New Nation asking not to be named.
He said, implementation of these projects is vital to support an 8.0 per cent annual GDP growth and achieve the status of middle income country by 2021.
“Dhaka has already prepared a list of such projects for Beijing opting Chinese funding for their implementation. We are expecting an official announcement in this regard during the meeting between the two leaders. If Beijing does not consider to Dhaka’s needs then it will look for alternative funding sources for their implementation,” said the ERD official.
The ERD official, however, expressed his optimism of securing the Chinese support in implementation of Bangladesh’s mega infrastructural projects saying that the Chinese President might announce a full package involving billions of dollars to shore up our investment need.
“China has already taken the lead of Malaysian mega projects edging out other foreign bidders like Japan. It may be played a similar role here being a tested friend of Bangladesh,” he added.
Officials said the projects lined up for Chinese assistance include the single line dual gauge railway track from Dohazari to Cox’s Bazar via Ramu and Ramu to Gundum near Myanmar border project, Dhaka-Chittagong railway chord line project, Padma rail link from Dhaka to Jessore project and multi-lane road tunnel under the river Karnaphuli.
Other projects include Chinese economic and industrial zone in Chittagong area, digital connectivity for Digital Bangladesh, expansion and strengthening of power system network in DPDC area, Payra sea port project, Dhaka-Ashulia elevated expressway, Unit-2 of Eastern refinery and single point mooring project.
According to the Finance Ministry officials, the government has targeted to implement these projects by 2021 and sent loan proposals to China considering their interest in promoting Bangladesh’s economic development as they are doing over the years.
Another senior official in the Prime Minister Office told The New Nation yesterday that the issue of deep sea port project is expected to come into discussions between the two leaders and most likely a deal to this effect would be signed between Bangladesh and China.
“The visit of Chinese President is significant for various reasons. Talks between the two sides will be held on economic and regional cooperation, terrorism and security issues,” a foreign ministry official told The New Nation yesterday.
He said the visit of Chinese top leader in Bangladesh would further deepen the Sino-Bangla ties when both the countries are maintaining an excellent bi-lateral relation.
“A number of accords, memorandum of understandings and agreements are expected to sign between Bangladesh and China during the Chinese President’s upcoming visit to Bangladesh,” he added.
In the past four decades, the Sino-Bangla relations have gone through a speedy transformation. Exchange of high-profile visits between China and Bangladesh shows both countries seriousness to strengthen ties between them.
In June 2014, Prime Minister Sheikh Hasina paid visit to China emphasizing a stronger Sono-Bangla relations.
During the visit, she invited the Chinese President to come to Bangladesh to mark the 40 year’s anniversary of diplomatic relations between the countries.
The Chinese President will arrive in Dhaka on October 14 and leave for India on the next day to attend the BRICS Summit in Goa.
