China Exim Bank Vice President Meets Shipping Adviser
A meeting was held between Shipping Adviser Brigadier General (R.) Dr. M Sakhawat Hussain and China's Exim Bank Vice President Yang Donging at the bank's headquarters in Beijing yesterday. During the meeting, the Shipping Adviser emphasized the significance of the Expansion and Modernization of Mongla Port Project, aimed at increasing the port's capacity. He said, "Mongla Port's location is strategically important in the regional geopolitical context. Currently, the port lacks a terminal jetty. Under the said project, two terminal jetties will be constructed, which will play a crucial role in boosting the port's capacity."
The project was approved in February 2025. The adviser also said that the financing for the GOB portion is secured but project activities cannot commence because the loan agreement from the Chinese side has not been finalized. Sakhawat said that the project titled 'Procurement of two crude oil tankers and two bulk carriers' of BSC with China G2G and the organization's own financing is very important to increase the capacity of Bangladesh Shipping Corporation (BSC). In addition, the process of purchasing two more ships for Bangladesh Shipping Corporation is underway and the process of purchasing three more ships will be taken soon, he added.
At this time, Exim Bank of China expressed a positive attitude towards the loan agreement for the Mongla Port project and it was informed that necessary measures will be taken quickly in discussions with the China International Development Cooperation Agency (CIDCA) to execute the loan agreement within the current year. Similarly, the loan agreement for the BSC ship purchases is expected to be signed within this fiscal year and is included in the current procurement plan.
Vice President Yang Donging also expressed interest in investing further in Bangladesh across various sectors, noting that the investment climate in the country is favorable. The meeting was attended by senior officials from both countries, including Rear Admiral Shaheen Rahman, chairman of Mongla Port Authority, among others.
