DHAKA: Bangladesh and China have signed the much-waited loan deal on the Padma Bridge Rail Link construction project on Friday (April 27).

Representatives of both countries signed the USD 2.66 billion (Tk 21,812 crore) loan deal around 11:00am, according to concerned sources. 

On behalf of Bangladesh government, Economic Relations Division (ERD) additional secretary (Asia wing) Zahidul Huq and China Exim Bank vice-president Sun Ping signed the deal.

Earlier on Wednesday (April 25), a six-member delegation of Bangladesh government led by Zahidul Huq went to China for signing the deal.

On May 3 in 2016, ECNEC approved Tk 34,988 crore for railway construction in the South-Eastern region through Padna Bridge. However, the project expenditure was proposed to increase Tk 39,988 crore. 

Of the total expenditure, government will finance Tk 18,221 crore while the China Exim bank will finance the rest Tk 21,812 crore. The implementation of the project is expected to be completed within June 2024. The new 169 km long rail link from Dhaka will end in Jessore through Padma Bridge.

BDST: 2010 HRS, APR 27, 2018
AP