Dhaka to urge Beijing for lower interest rates, extended repayment period: Touhid Hossain

Bangladesh plans to request China to lower loan interest rates, extend repayment terms by 30 years and waive commitment fees to bolster economic cooperation.

The issues along with budget support will come up in a big way during Foreign Affairs Adviser Md Touhid Hossain's bilateral visit to China next week.

"...all economic issues will come up for discussion. Some issues are very important. Bangladesh's trade and economic relations with China are very important," he said while talking to reporters at the Ministry of Foreign Affairs on Wednesday (January 15), reports UNB.

Adviser Hossain said they will discuss budgetary support, explore China's assistance, expedite loan disbursement for Bangladeshi projects, and seek a full withdrawal of the commitment fee.

A commitment fee in China is a charge made by a lender to a borrower for keeping a line of credit available.

Hossain will pay the visit at the invitation of Chinese Foreign Minister Wang Yi on January 20-24 which is described as “very important first bilateral visit” after the formation of the interim government led by Prof Muhammad Yunus in August last year.

The Foreign Adviser said he will leave Dhaka on January 20 (evening) and will return to Dhaka on January 24. He will have engagements on January 21-23.

Bangladesh sees Hossain’s maiden bilateral visit to China as a “great opportunity” to further strengthen and deepen the bilateral relations with Beijing giving an outline for the future cooperation.