Beijing extends loan repayment period

Beijing extends loan repayment period

Praising Bangladesh good track record in loan repayment, China on Tuesday "agreed in principle" to extend the loan repayment period and assured to look into the request of the interest rate reduction.
Bangladesh Foreign Adviser Md Touhid, during his meeting with his Chinese counterpart Wang Yi in Beijing, requested China to reduce interest rate from 2-3% to 1%, waive commitment fee and extend loan repayment period from 20 years to 30 years for both the Preferential Buyer Credit (PBC) loan and Government Concessional Loan (GCL).
The Chinese Foreign Minister also assured to continue DFQF access of Bangladeshi products to the Chinese market for 3 years after the LDC graduation.