Yunus Meets Xi Jinping During China Visit, Urges Beijing To Cut Loan Rates And Help In Relocating Chinese Manufacturing Industries

Bangladesh’s Chief Adviser Muhammad Yunus met with Chinese President Xi Jinping on Friday (28 March), during the former’s four-day visit to China, reported The Hindu.

Before arriving in Beijing on 28 March, Yunus participated in the Boao Forum for Asia Annual Conference in Hainan.

During a separate meeting with Chinese Executive Vice Premier Ding Xuexiang, Yunus sought Beijing’s support for development projects in Bangladesh. 

He urged China to lower interest rates on Chinese loans from 3 per cent to 1-2 per cent and waive commitment fees on Chinese-funded projects.

He also nudged for assistance in relocating Chinese manufacturing industries to Bangladesh, such as ready-made garments, electric vehicles, light machinery, high-tech electronics, chip manufacturing, and solar panel production.

After Japan, the World Bank, and the Asian Development Bank, China is Bangladesh’s fourth-largest lender, having disbursed $7.5 billion in loans since 1975, according to the Daily Star newspaper.

On the sidelines of the Boao Forum, Yunus also met Russian Deputy Prime Minister Alexey Overchuk, who expressed Russia’s interest in increasing wheat and fertilizer exports to Bangladesh.

“Russia would like to export more wheat and fertiliser to Bangladesh,” Overchuk stated, quoted as saying by The Hindu.

The two leaders also discussed the operationalisation of the Russia-funded Rooppur Nuclear Power Plant, a key energy project in Bangladesh.

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

“We want to start anew; we need your support and advice. We are having a great opportunity now,” Yunus said.

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