Indian debt trap in Bangladesh

[idune]

Huge rally in Bangladesh opposing indian debt trap and Awami regime subservient actions.



Source: sheershanews.com

 

[Al-zakir]

^^^^
Idune Bhai, We all know this fact that BNP has the supports of the people yet it has not capitalized this support against Awami dalals thus far. What are they doing and what is holding them back?

 

[idune]

^^^^
Idune Bhai, We all know this fact that BNP has the supports of the people yet it has not capitalized this support against Awami dalals thus far. What are they doing and what is holding them back?

You are absolutely right. There are some obvious contention and unknown facts why BNP has not taken more active role in street. This is time again for BNP to play the historic role and kick these indian dalas out of the country for good.

 

[SHHHHH]

We are your creators(BD),dont worry we won't harm you.
lol:

 

[EjazR]

dis money is used for infrastructure development which indias going 2 need since we r providing dem corridor...so y not india pay for it???y do we hav 2 take a loan for their benefit and secondly also da ctizens pay tax for it???its like u take my blood and i pay u cash for it....probably ull put forward dat da economy will benefit oki f9 y not allow foreign investment or more better and a acceptable 1 provide da loan for our energy sector development???

Not only India but Nepal and Bhhutan as well. First worry about Chinese loan at 5% interest rate. What kind of a deal is that?

 

[Al-zakir]

You are absolutely right. There are some obvious contention and unknown facts why BNP has not taken more active role in street. This is time again for BNP to play the historic role and kick these indian dalas out of the country for good.

Main problem in my eye is that most of BNP top leaders are either old or hang in their throat by fabricated case by former CTG and Gaddar moin and/or they may be waiting for Tariq Zia's arrival.

In either case if BNP doesn't stand up with people against Awami munafigs then people throw them out of BD instead of Awami.

 

[idune]

Main problem in my eye is that most of BNP top leaders are either old or hang in their throat by fabricated case by former CTG and Gaddar moin and/or they may be waiting for Tariq Zia's arrival.

In either case if BNP doesn't stand up with people against Awami munafigs then people throw them out of BD instead of Awami.

People are sure looking for leadership against Awami regime lie, deception and opression. If BNP failed to provide leadership people rebellion then they will find alternative. And BNP is on notice on their resposibility, but their response are not encouraging.

 

[British_Bangladeshi]

We are your creators(BD),dont worry we won't harm you.
lol:

Your really pathetic aren't you?

 

[idune]

Your really pathetic aren't you?

Are you that stupid to reply to a banned member or just trying to close this thread by starting another flame war with indians.

Mod, would you please ban this member for degrading quality of discussion.

 

[Stumper]

First worry about Chinese loan at 5% interest rate. What kind of a deal is that?

Ejaz, Thanks Mate.

Let me Paste here for BD members benefit. And Oh ... This is from a BD source.


<i>Facts in loans</i>

While the BNP has alleged that 1.75 percent interest for the $1 billion loan from India is very high, facts about loans taken by different previous governments show that the rate is not high.

The main opposition party also found it disgraceful that the government was signing the loan deal with Indian Exim Bank instead of the Indian government. In practice, most of the bilateral loans are typically signed with national bank of the lending country.

Like any other developing nation, Bangladesh has taken different types of loans and grants from different countries and multilateral donors--sometimes on hard conditions and sometimes soft.

Whenever Bangladesh has taken any hard or tied loan from a donor, the interest rate has ranged between 2 percent and 5 percent.

The loan from India is a commercial or tied loan with a 20-year repayment period having conditions like the borrower has to purchase certain things from the lending country. Such conditions are not unique. Even countries like the USA or Japan had given tied loan to Bangladesh in the past.

When the BNP was in power in the early nineties, it had signed a $109 million dollar Supplier's Credit deal with China to fund the Barapukuria coal mine project that sought 5 percent interest rate and 17 years repayment period. Plus, the loan demanded that at first Bangladesh make a down payment of 10 percent of the total loan.

Former minister and a member of BNP standing committee MK Anwar in a party statement compared the interest rate of the Indian tied loan with that of soft loans sometimes offered by multilateral donors like the World Bank, Asian Development Bank (ADB), and many developed countries.

According to Economic Relations Division (ERD), soft loans are based on grants, and the donors only put a service charge below 1 percent--and no interest rate. While the BNP stated that such loans can be obtained from “any multinational bank”, the fact is, soft loan is very hard to find as the donors impose conditions against them and have their last say about granting it.

Every year, the World Bank and the ADB offer Bangladesh several soft loans. But in such cases, Bangladesh must comply with their conditions. Both these banks select the projects from an array of proposals from Bangladesh and then monitor all the progress. The availability of such loans is also restricted.

Side by side, the ADB offers countries like Bangladesh commercial loans with interest rates swinging between 3 and 5 percent. Bangladesh took such a loan of $250 million at an interest rate of 3.5 percent to support its budget.

Again conditions of tied loans can vary from country to country. For instance, a Chinese tied loan completely restricts Bangladeshi procurement of materials from certain companies. It can even be restricted within a single company and Bangladesh would have no choice. In case with the Indian loan condition, Bangladesh will be compelled to buy materials from India--but from manufacturers selected through a country-restricted tender.

On the question whether it is disgraceful for the country to sign a bilateral loan agreement with a national bank, an ERD official notes, “During the caretaker government's tenure, the government signed a loan with the South Korean Exim Bank. Presently we are negotiating a loan with China for financing a fertiliser factory in Sylhet and introducing 3G technology for the telecom sector of the country. This agreement will also be signed with the Chinese Exim Bank with an interest rate higher than 2 percent.”

 

[Stumper]

^^^^
.....What are they doing

.....and what is holding them back?

Maybe, their own KickBacks from the GoI in the past, is what is holding them back. Possible mate?

 

[Stumper]

What Iaj mentioned was that if loan was needed to provide transit, then why not WB but India....?? Thats all....its all about making money as he said, just his view....


Cheers!!!

Well mate, there is a reason, why WB is avoided as much as possible. First, getting a soft loan from WB comes with a whole laundry list of things WB *demands* of you, this may include cutting down on rebates, to cutting down in public expenses, etc etc. They need to ensure that you pay them back the money they have offered you for almost zero% rate (of course they are not charity ).

Some of Indians states are learning this the hard way (and Oh ... Did i mention that getting this soft loans from WB is really really difficult).

If you ask me, that was smart move.

 

[Peshwa]

Honestly....The reaction of BD members here is highly dissapointing.....

Looks like the Pakistanis are gone from BD, but left the annoying habits of conspiracy theories etched in the BDeshis....

What I find extremely amusing about this is that instead of praising that what some members here call an "enemy state"....which is boosting infrastructure in bd and giving a 1 Billion dollars of its hard earned cash to a country full of ingrates.....who instead are criticizing India....
Objections because India will use these roads for transit.....But has any BD member realized that in times of war, it will be this very infrastructure that you will be using to get your troops to BD border with India?
By this regard, shouldnt this be more the BD trap for India?

I think this is a mutually beneficial treaty.......
Why create wars where there are none?

 

[idune]

Scrap ‘slavery deal’ with India bank: Khaleda ‘
Serving other’s interest with country’s money won’t be allowed’

Staff Correspondent

The Bangladesh Nationalist Party’s chairperson, Khaleda Zia, on Monday asked the government to scrap the deal signed with India’s Exim Bank on Saturday and warned the government of tougher protest programmes after Ramadan if it fails to meet people’s demand.

Terming the deal signed in the presence Indian finance minister Pranab Mukharjee ‘a deal of slavery’, she said that the Awami League had singed a similar 25-year ‘slavery deal’ in 1972 to protract their regime but their foreign lords could not save them. ‘This time, too, they will not be allowed to remain in office for signing a deal against the country’s interest,’ Khaleda told a brief rally at Paltan before leading the party’s mass procession.

‘Serving others’ interest with the country’s money will not be allowed. People want to know the details of the secret deals the prime minister has signed with India. If the deals are not against the interest of the country, why are they hiding them?’ said Khaleda, and urged the people to get united and fight against such betrayal.

She said that when loans could be obtained from the World Bank or International Monetary Fund at much lesser interest rate, the government is borrowing money from India at a much higher rate. ‘This amount will be spent on infrastructure for India’s transit facilities,’ she said.

The BNP organised the procession to protest against ‘violence, tender manipulation, spree of grabbing land and admission trade’ by Chhatra League and Juba League activists, price hike before Ramadan, obstructing the opposition’s programmes, oppressing and filing ‘false’ cases against BNP’s leaders and activists. The marchers also demanded release of detained party leaders and asked the government to produce missing ward commissioner Chowdhury Alam before the people.

Khaleda said that the government always remains vocal about democracy but does not bother to practise democracy.
She alleged that the opposition lawmakers were not allowed to speak in the Parliament. ‘There is no Parliament now. The ruling party lawmakers themselves have dubbed it a “zoo” and “wholesale fish-market”. We cannot speak for the people in that “zoo” or “fish-market”, so we have opted to take to the streets and speak for the people. We expect the people to stand by us,’ she said.

Khaleda said that the government has failed to implement the pledges it had made before the elections. ‘There is no power, water and electricity. Essential commodities remain above the people’s buying capacity. This government is completely failing to run the state. Leave office if you cannot contain price hike, provide power, water, gas and electricity. The people will decide again who should work for them,’ she said.

Referring to Pranab Mukharjee’s brief visit, Khaleda said that the people had expected that the issues of killing Bangladeshi people on the border and sharing the water of common rivers would be discussed. ‘But none of the issues were tabled in the discussion,’ she said.

Khaleda accused the government of gross politicisation of all the tiers of public administration. ‘Efficient officers have been made OSDs or been terminated and replaced by inefficient Awami League supporters who have brought the administration to a standstill.’
She asked the oppressed officials not to be afraid and to continue working with courage. She also assured the terminated officers that they would be reinstated after the BNP assumes office.

Leaders and activists of various units in the city, leading small processions, began gathering at the field in Paltan from 3:00pm.
After the speech Khaleda led the procession, but not on foot. She got up on her vehicle, slid the sunroof aside and stood up so that she could be seen. People standing on both sides of the street greeted her, and she waved to them in return.

The processionists marched through Rajuk Avenue, DIT Extension Road, Inner Circular Road, Kakrail, Shantinagar, Malibagh and Mouchak and dispersed after they reached Maghbazar crossing.

They chanted slogans demanding uninterrupted supply of power, water and gas, denouncing oppression of opposition activists and demanding release of the detained party leaders.

The police took tight security measures along the route and in the Paltan ground before the mass procession to prevent any trouble.

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[LEO99]

india bangladesh ko de to "DEBT trap" aur agar US pakistan to de to soft LOAN