Bangladesh signs $335.78 million loan with China to upgrade Mongla Port
World
Bangladesh just signed a $335.78 million loan deal with China to give Mongla Port a big boost.
The plan? Build two new container terminals and cargo yards to handle more trade.
The loan comes with a 2% interest rate, stretches over 20 years, and includes a five-year grace period, so Bangladesh gets some breathing room before payments start.
China strengthens influence at Mongla Port
Mongla Port sits just 80km from India's border, making it key for trade in the area.
This move follows Bangladesh dropping an Indian-backed project near the port, hinting at shifting regional ties.
With China stepping in to help expand the port, it's clear that Beijing is strengthening its influence, and India is definitely watching closely.