The Chinese embassy in Bangladesh has called upon the Government to formally submit a loan application to secure funds for the expansion and modernisation of the Mongla port.
Ambassador Yao Wen expressed confidence in the project’s early commencement, emphasising its positive impact on Bangladesh’s economic development and the improvement of local livelihoods in a letter.
Reports claimed this citing a senior official from the Economic Relations Division (ERD), who on the condition of anonymity, reportedly revealed that China had urged formal loan applications in letters received by the ERD.
However, as of now, Bangladesh has not submitted a loan application.
The ERD has been attempting to secure funds for the expansion and modernisation of Mongla port since 2016, but prior attempts to elicit a positive response from China were unsuccessful.
The Chinese funds, if secured, are intended for the modernisation of the port, aiming to enhance service quality and efficiency.
Additionally, under a separate agreement, India is set to provide Taka 4,459 crore for the development of the port, with a focus on increasing its capacity.
