Bangladesh secures $335.78 million China loan for Mongla Port

Bangladesh has signed a $335.78 million concessional loan agreement with the Export-Import Bank of China to expand and modernize Mongla Port, according to the Economic Relations Division (ERD).

The agreement was signed Oct. 10 by ERD joint secretary Alia Meher and China Exim Bank assistant general manager Fengjun Tian.

Financing will support two container terminals equipped with modern machinery, along with a container yard, a delivery yard, and a cargo-handling yard.

China will provide the loan at a 2% interest rate over 20 years, including a five-year grace period, the government division said.

Officials expect the project to improve facilities and increase cargo-handling capacity at Mongla Port, Bangladesh’s second-largest seaport. The financing agreement has been completed, while construction and the planned capacity expansion remain ahead.