Bangladesh’s Chief Adviser Muhammad Yunus Seeks China’s Support on Loans, Investments & Industrial Shift

Bangladesh’s Chief Adviser Muhammad Yunus met Chinese President Xi Jinping on March 28 during his four-day visit to China, The Hindu reported.

Before arriving in Beijing, Yunus attended the Boao Forum for Asia in Hainan. In a separate meeting with Chinese Executive Vice Premier Ding Xuexiang, he asked for China’s support in development projects.

Yunus requested China to lower interest rates on loans from 3% to 1-2% and waive commitment fees on Chinese-funded projects. He also urged China to relocate industries to Bangladesh, including garments, electric vehicles, and chip manufacturing.

China is Bangladesh’s fourth-largest lender, having provided $7.5 billion in loans since 1975, according to The Daily Star.

On the sidelines of the Boao Forum, Yunus met Russian Deputy Prime Minister Alexey Overchuk. Russia expressed interest in increasing wheat and fertilizer exports to Bangladesh. They also discussed the Rooppur Nuclear Power Plant, a Russia-funded energy project.

Additionally, Yunus met former UN Secretary-General Ban Ki-moon, Chairman of the Boao Forum, seeking international support for Bangladesh’s democratic transition.

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