Xi Jinping visits Bangladesh, provides $24 billion loan to fund projects

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Sheikh Hasina, Xi JinpingChinese President Xi Jinping on October 14 arrived in Bangladesh on a two-day state visit. A Chinese head of state had last visited the country in 1986.

Bangladesh President Abdul Hamid received Jinping at VVIP terminal of Hazrat Shahjalal International Airport as he emerged from a Air China flight.

Four air force jets escorted Jinping’s aircraft as it entered Bangladesh airspace. After he landed, he was accorded a guard of honour by a contingent of army, navy and air force.

Jinping will hold negotiations with PM Sheikh Hasina and later join a state banquet at Bangabhaban presidential palace.

Hasina said Bangladesh supported China on its core national interests. It is Bangladesh’s largest trading partner. Officials of the host country said the two countries might sign 25 deals and MoUs on investment and cooperation.

Jinping will ink a $24 billion loan, the biggest credit line, to Bangladesh before heading to Goa, India, for the BRICS Summit.

The funding will help Bangladesh build 25 projects, including a 1,320 MW power plant, a deep sea port, a power complex and developing highways.

Beijing also proposed an economic corridor linking Bangladesh, Myanmar, China and northern India, but New Delhi was not keen on it.

Meanwhile, India sees the loans by China as a way to control in South Asia.