Bangladesh alert on taking a loan from China, the meeting will be held this week on future projects to be built with the help of India
Bangladesh has become cautious after seeing the fate of China's debt-ridden countries, especially the neighboring Maldives and Sri Lanka. PM Sheikh Hasina's government is no longer enthusiastic about taking loans from China. The massive announcement of $24 billion in aid to Bangladesh during President Xi Jinping's visit to Dhaka in 2016 has largely remained confined to announcements. Most of the projects that China has expressed its intention to set up in Bangladesh under its ambitious Border Road Initiative (BRI) are zero.
On the other hand, this week Bangladesh Foreign Minister A.K. A meeting of the Joint Consultative Committee (JCC) is going to be held under the chairmanship of Abdul Memon and External Affairs Minister of India S Jaishankar in which the projects are to be taken up there with the help of India will be finalized.
Bangladesh's Information Minister Dr. Hassan Mahmood has clearly said that his country is not taking any new loans from China now. This decision has been taken by his government very carefully. After considering China's proposal to connect Chattogram to the capital Dhaka by bullet train, Sheikh Hasina's government has rejected it. This decision has been taken because the government does not want any other country to borrow more than a limit or contract most of the country's projects to one country.
In fact, Bangladesh's confidence has grown after building a massive $3.6 billion road and rail bridge on its own across the Padma River so that it can complete large projects without debt. Foreign Minister Abdul Memon, after meeting Chinese Ambassador Li Jiming a day earlier, has said that we are very cautious about foreign debt.
Bangladesh Foreign Minister coming to Delhi next week
This stand of Bangladesh has come to the fore when the Foreign Minister of Bangladesh is going to meet with the Indian Foreign Minister a few days later. External Affairs Minister Memon is coming to New Delhi this week and during this time both the countries will review the projects to be set up there with the help of India. India has so far announced projects worth $9.6 billion to Bangladesh. Work on some of these projects is going on while some projects are likely to be decided soon. India intends to start road, rail, and port projects in Bangladesh not only on its own side but also with Japan.
Bangladesh's per capita income may increase by 17 percent
According to a senior official of the Indian Ministry of External Affairs, if all the connectivity projects to be prepared with the help of India are ready on time, it can increase the per capita income of Bangladesh by 17 percent, and exports to India will increase by three hundred percent. Might be possible. Not only this, but India's exports will also increase significantly. By the year 2023, Chattogram Port, the largest port in Bangladesh, will connect the two states of Northeast India, Meghalaya and Tripura, by excellent road as well as rail, which will take the business relations of both the countries to new heights. India is not offering Bangladesh like China to set up big projects and give loans for it, but only those projects which the neighboring country needs and that too after taking the government there into confidence.