China to Invest Tk 35.93 Billion to Overhaul Mongla Port

China’s Exim Bank and the Bangladesh government have signed a loan deal worth Tk 3,592.89 crore on easy terms. The money will help modernise Mongla Port and improve its infrastructure. The deal was signed to carry out the project.

The China Export Import Bank (Exim Bank) will give the money for a project called “Expansion and modernisation of Mongla Port facilities.” The loan will let the government start the work on this project.

Yesterday, the deal was signed at the Economic Relations Division. Ms. Aliya Meher, joint secretary of the division, signed for the Bangladesh government. Mr. Fengjun Tian, assistant general manager, signed for China’s Exim Bank.

The project will build two container terminals with modern equipment. It will also build a container yard, a container delivery yard and a cargo handling yard. The port will get other upgrades it needs.

Under the signed deal, the Chinese government has confirmed a soft loan for the project at a 2 percent interest rate. Bangladesh will repay the loan over 20 years, including a grace period of five years.