Bangladesh Secures $335 Million Loan from China for Mongla Port Modernization

Bangladesh has inked a significant agreement with China to bolster the infrastructure of the Mongla Port, located near the Indian border. The deal, valued at USD 335.78 million, will fund the development of two container terminals and cargo-handling yards at Mongla, the country’s second-largest seaport after Chattogram. This move aligns with Dhaka’s ambition to enhance the port’s capacity and facilities. The loan agreement, amounting to Renminbi Yuan 2.404 billion or approximately USD 335.78 million, was formalized between the Bangladeshi government and the Export-Import Bank of China. The concessional loan carries a 2% interest rate and features a 20-year repayment period,…