Thursday, Oct 6 2022 | Time 22:14 Hrs(IST)
image
World


B'desh FM warns against loan from China through the BRI projects

Dhaka, Aug 10 (UNI) Bangladesh Finance Minister AHM Mustafa Kamal has warned the developing countries from taking loans through the Belt and Road Initiative (BRI) of China. In an interview to the Financial Times (FT), Finance Minister Mustafa Kamal said the developing countries must think twice before taking BRI loans keeping in mind the global inflation and slowing growth which add to the indebted emerging economies.
Minister Kamal also suggested that China should evaluate the loans more rigorously as the poorer countries risk falling into debt trap due to wrong decisions about taking debt. In this context he pointed out the case of Sri Lanka whose economic crisis was exacerbated due to infrastructure projects funded by Chinese debt which failed to generate adequate returns. Referring to BRI projects taken up without rigorous decision making, he said that ‘everybody is blaming China. China cannot disagree. It is their responsibility’, FT quoted Mustafa Kamal.
Finance Minister Kamal said that Bangladesh has sought a loan of USD 1.5 billion as the first instalment of support out of the total package of USD 4.5 billion. The funding requirement included the climate change resilience projects and budgetary support. However, the IMF has not yet decided upon the quantum of loan it will provide to Bangladesh. Further, Bangladesh is seeking USD 4 billion more from World Bank, Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and Japan International Cooperation Agency (JICA), said the Minister.
More News
India supports rule based international order: LS Speaker

India supports rule based international order: LS Speaker

06 Oct 2022 | 8:37 PM

Jakarta, Oct 6 (UNI) India has always supported a rules-based international order, Lok Sabha Speaker Om Birla said on Thursday addressing Presiding Officers of G-20 Parliaments on the theme "Effective Parliament, Vibrant Democracy".

see more..
Annie Ernaux wins 2022 Nobel Prize in Literature

Annie Ernaux wins 2022 Nobel Prize in Literature

06 Oct 2022 | 8:33 PM

Stockholm, Oct 6 (UNI) French author Annie Ernaux has won the Nobel Prize in literature, organizers announced in Stockholm on Thursday.

see more..

RAB formed on USA's advice: Sheikh Hasina

06 Oct 2022 | 8:24 PM

Dhaka, Oct 6 (UNI) Bangladesh Prime Minister Sheikh Hasina said that the Rapid Action Battalion (RAB) was formed on the advice of the US and as they trained, the RAB worked.

see more..
Swiss authorities urge citizens to get Covid booster shots

Swiss authorities urge citizens to get Covid booster shots

06 Oct 2022 | 7:19 PM

Moscow, Oct 6 (UNI) The Swiss Federal Council on Thursday urged citizens aged 16 and over to get revaccinated against COVID-19 starting from October 10 due to an increase in the number of reported cases.

see more..
Death toll from Thai mass shooting rises to 36

Death toll from Thai mass shooting rises to 36

06 Oct 2022 | 5:23 PM

Bangkok, Oct 6 (UNI) A mass shooting at a childcare center on Thursday in northeast Thailand's Nong Bua Lamphu province has killed at least 36 people, including 24 children, local authorities said here on Thursday.

see more..
image