Connect with us


Bangladesh Evades “Chinese Debt Trap” For Padma River Project



Bangladesh has managed to evade the Chinese debt trap as Dhaka decided to construct its biggest infrastructure project over Padma river by itself. Learning from the experience of Sri Lanka and Nepal, Bangladesh will build rail and road bridges over Padma river by itself and boost regional connectivity.

The 20-kilometre-long rail and road bridges over Padma river is being built by self-generated funds totalling approximately about Rs 30,000 crore in local currency. The bridges, along with connecting highways is projected to be completed in the next few years.

“There is no international funding for this project and budget has been allocated from Bangladesh’s own resources to avoid any debt trap,” said a key source.

The railroad bridge over Padma river which the World Bank had earlier declined to finance will be part of the Asian Highway connecting Bangladesh with India and Southeast Asia.

According to Bangladesh government officials, the bridge would connect Dhaka with undeveloped southwest Bangladesh and the rest of the nation, which is experiencing an economic boom following a decade of stability.

While some Chinese companies are involved in the execution of the project picked through tenders, the project, however, has no Chinese fundings. Bangladesh has been circumspect in accepting loans from China and many times even rejected and blacklisted Chinese firms contending for infrastructure projects in the country.

The Khaleda Zia regime in Bangladesh had substantial reservations against the connectivity and transit projects as she believed that it would encroach on the sovereignty of Bangladesh. However, the Sheikh Hasina realised that connectivity and transit was a win-win situation for Bangladesh and has been actively supporting the intra-region connectivity.

More News at EurAsian Times




Americas3 hours ago

What Is US’ Most Lethal Submarine Killer – The P-8 Poseidon Doing On India-China Border At 15,000 Feet?

US-made Boeing P-8I Poseidon maritime patrol aircraft, also known as ‘Submarine Killer’, has been deployed in Eastern Ladakh near the...

Featured3 hours ago

Indian BrahMos Goes Global; After Indonesia, Brazil Looks To Arms Its Gripen Jets With Indo-Russian Missile

The BrahMos-NG is intended to be a mini-version of the existing BrahMos, being lighter and shorter while still having a...

CHINA-amphibious-aircraft-AG600 CHINA-amphibious-aircraft-AG600
Asia Pacific4 hours ago

Seaplanes Set To Make A Comeback As China Threatens The US With Its Amphibious ‘Fish Dragon’

Decades ago, seaplanes proved their might during World War I for surveillance and reconnaissance. Not just that, seaplanes were later...

eurasian times eurasian times
Featured5 hours ago

Top Iranian Nuclear Scientist Assassinated Near Tehran; Fingers Raised Towards Mossad

A senior scientist linked to the Iranian nuclear program, Mohsen Fakhrizadeh-Mahabadi, was assassinated in Damavand, east of Tehran on Friday,...

indian-air-force indian-air-force
Featured8 hours ago

Third Indian MiG-29 Crashes In A Year – Is It Time To Bid Adieu To Russian Jets & Welcome Western Fighters?

The Indian Navy said on Friday that a MiG-29K trainer aircraft had crashed in the Arabian Sea around 5 pm...

Featured9 hours ago

Modi’s Trillion Dollar Baby: India Bets Big On Its Largest Govt-Funded Project – The Bullet Train

India is gearing up to build its first bullet train corridor covering 508 kilometers between Mumbai and Ahemdabad. The National...

india-russia india-russia
EurAsian Region10 hours ago

India, Russia To Showcase Their Naval Might In Joint Drills In Baltic Sea

The Russian and Indian navies are likely to conduct joint drills in the Baltic Sea sometime next year, according to...

Pakistani-Passport Pakistani-Passport
Featured12 hours ago

UAE Visa Ban Starts To Pinch Pakistan; 3000 Jobs Lost In First Week As Indian Workers Rejoice

OPED By Haider Abbas

Bubonic Plague Bubonic Plague
Americas13 hours ago

As China Slips In The Covid-19 Vaccine Race, Will Russia Eclipse The US & UK To Get The 1st Shot Out?

As the world continues to battle Covid-19, a study on the efficacy of Chinese Sinovac Biotech’s vaccine, published in the...

Featured14 hours ago

#LoveJihad: Democratic India Plans To Combat ‘Love Jihad’ In An Attempt To Control Interfaith Marriages

Hindu right-wing has coined the term “love jihad”, to describe the marriage of a Hindu girl to a Muslim boy....