Indian debt trap in Bangladesh

[whocares]

i got no idea about the politics of this loan nor do i care. i am just saying from a pure economics point of view, this is a good deal.

 

[deckingraj]

i am sorry but what a waste thread to spend time on.....It is as simple as saying why is there no free lunch...

If someone can share with me a source from where i can get $ 1billion at the rate of 1.5% for a period of 20 years with 5 years grace period i will bad deal?? On top of that did we force this loan on BD??? It is mutual benefit and looks perfectly fine.....In fact win win for both...yeah all you need is to look without bias motivated by sheer hatred and jealousy....

Anyways...i think i have wasted my time going through the post in the thread...so have fun the the dept trap.....

 

[anathema]

Peps Quake like Bharaties riding on Westerner's neck call us unimportant whereas they themselves fight tooth and nail to sell their horses to MUA and Shanti prize(Ahem) to Hasina. Don't these Bharatis have enough open latrins and dry shyte to clean for from Kolkata to Bombay rail track? So, why poking noses here instead of getting busy over there?

Your post doesnt deserve a reply...like i said .."You all are just not important"...keep venting.

 

[anathema]

There is an authentic Hadidth from Bokhary(rah) that says, 'Inna maa'l Amalu Bin Niate', which means consequence of an action depends on its intention. IND can do all sorts of (state to state) legal businesses with BD as long as it intends good for both people but that has been missing throughout its history.

I dont know any religious sayings -- but i know a phrase .."Sometimes the best answer is the most simplest one"..... India in this case is just helping out Bangladesh ... thats it ... no need to put controversies or spin on this. Period.

 

[Guynextdoor]

Jesus christ. I have never seen a country so against itself. If India gives a loan to Bangladesh so that it can build infrastructure for trade transit EVERY single economist would say smart move. Ultimately, by becoming a feeder port facility for India which is growing at 9.5%, Bangladesh can expect to earn BILLIONS over the coming decade. Rather than putting too much pressure on your own strained resources, we have given you a soft loan so that you can get the system running- as simple as that. you must THANK your government that they are smart enough to open new trade avenues. instead you guys are hell bent on attacking them. What is your intention? To become a third world country by squandering all opportunities??

 

[British_Bangladeshi]

Jesus christ. I have never seen a country so against itself. If India gives a loan to Bangladesh so that it can build infrastructure for trade transit EVERY single economist would say smart move. Ultimately, by becoming a feeder port facility for India which is growing at 9.5%, Bangladesh can expect to earn BILLIONS over the coming decade. Rather than putting too much pressure on your own strained resources, we have given you a soft loan so that you can get the system running- as simple as that. you must THANK your government that they are smart enough to open new trade avenues. instead you guys are hell bent on attacking them. What is your intention? To become a third world country by squandering all opportunities??

I agree with you that!

 

[Skies]

China, Japan and others help us, and they get respect from us in return.

But India........., lol?

Hey, I'm talking about most of general BDmen's perception who suspect India's intention.

Don't ask me why.

You will be upset.

 

[idune]

Here is the news of South Korea provided loan to Bangladesh inmuch lower (virtually free) rate and no robery attempt.

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ROK to give Bangladesh US$200 million soft loan, increase annual grant assistance to $10 mn

Dhaka, May 27 (UNB) - South Korea will provide US$ 200 million soft loan for Bangladesh over three years (2010-2012) under an agreement signed during Prime Minister Sheikh Hasina’s recent visit to Seoul.

South Korean Ambassador in Dhaka Taiyoung Cho in an interview with UNB chief correspondent Shamim Ahmad said the loan will be granted from the Economic Development Cooperation Fund (EDCF) to finance various projects in health, transportation, construction, power transmission line and ICT sectors in Bangladesh.

The interest rate of the soft loan is 0.01 percent while the period of repayment is 40 years with 10 years grace period. As of March this year, South Korea granted US$ 400 million to Bangladesh for 13 projects which are under implementation.

The Ambassador said the Korean government has also increased its grant assistance to Bangladesh from US$ 6.8 million to US$ 10 million annually for at least three years from 2011. From 1991-2009, Seoul provided grants totaling US$ 36 million.

Asked about recruitment of Bangladeshi workers under the Employment Permit System (EPS), he said under the EPS Bangladesh’s quota for this year is 4,400 - an increase of 600 from the last year. Of them, 1400 workers already left Bangladesh for South Korea.

On duty-free access to Korean market, Cho said South Korea has already given duty-free access to 85 percent of Bangladeshi products as requested by Dhaka. It would need further discussion to provide duty-free access to the remaining 15 percent.

“We’ve some sensitive industries too. We’re now looking into the Bangladesh’s request. Duty-free coverage is being expanded every year,” he said.

Cho said a Korean business team will visit Bangladesh later this year or early next year. The team will explore the possibility of buying more and investing more in Bangladesh.

In 2009, the two-way trade between Bangladesh and South Korea was recorded at US$ 1,186 million, of which the Korean export was US$ 1,064 million and the import an insignificant US$ 122 million.

Asked about ROK investment, the envoy said Korean companies are interested in putting money in various sectors including development of coal mine and coal-based power plants. He, however, spoke about the urgency of finalizing the coal policy first.

Recently, he said, Hyundai Heavy Industries signed a contract with the Bangladesh government to build a 70 MW power plant at Bera, Pabna.

During the Prime Minister’s visit, Cho said the two countries agreed to further expand defence cooperation including training, exchange of visits and collaboration in the defence industry.

Asked about purchase of military hardware from Korea, he said Seoul is willing to sell military hardware including naval frigates. The two defence ministries need to discuss and work on it.

About the green technology, the Ambassador said President Lee is champion of green grow, and Korea is investing huge money in this area. Korea now has a US$ 200 million East Asia Climate Change Cooperation Fund. The fund aims to support the developing countries to cope with the climate change and adopt the green grow policy.

If any country comes up with good climate change projects, assistance is provided from this fund in the form of training and technical assistance, he said.

UNBconnect... - ROK to give Bangladesh US$200 million soft loan, increase annual grant assistance to $10 mn

 

[Guynextdoor]

China, Japan and others help us, and they get respect from us in return.

But India........., lol?

Hey, I'm talking about most of general BDmen's perception who suspect India's intention.

Don't ask me why.

You will be upset.

Go ahead and upset me. Japan and S Korea are developed countries and can throw around their money but India as a developing country can go so much, do so much. Besides don't you see the difference between what they are doing and what we are doing? This is not some 'grant', this is a source of income for you. You don't need to use your minerals or resources, just sit back and count the cash as it comes in. You even don't have to spend money on the roads, we're funding even that with a soft loan. This is pathetic.

 

[Guynextdoor]

Here is the news of South Korea provided loan to Bangladesh inmuch lower (virtually free) rate and no robery attempt.

---------------------------------------------------------------------

ROK to give Bangladesh US$200 million soft loan, increase annual grant assistance to $10 mn

Dhaka, May 27 (UNB) - South Korea will provide US$ 200 million soft loan for Bangladesh over three years (2010-2012) under an agreement signed during Prime Minister Sheikh Hasina’s recent visit to Seoul.

South Korean Ambassador in Dhaka Taiyoung Cho in an interview with UNB chief correspondent Shamim Ahmad said the loan will be granted from the Economic Development Cooperation Fund (EDCF) to finance various projects in health, transportation, construction, power transmission line and ICT sectors in Bangladesh.

The interest rate of the soft loan is 0.01 percent while the period of repayment is 40 years with 10 years grace period. As of March this year, South Korea granted US$ 400 million to Bangladesh for 13 projects which are under implementation.

The Ambassador said the Korean government has also increased its grant assistance to Bangladesh from US$ 6.8 million to US$ 10 million annually for at least three years from 2011. From 1991-2009, Seoul provided grants totaling US$ 36 million.

Asked about recruitment of Bangladeshi workers under the Employment Permit System (EPS), he said under the EPS Bangladesh’s quota for this year is 4,400 - an increase of 600 from the last year. Of them, 1400 workers already left Bangladesh for South Korea.

On duty-free access to Korean market, Cho said South Korea has already given duty-free access to 85 percent of Bangladeshi products as requested by Dhaka. It would need further discussion to provide duty-free access to the remaining 15 percent.

“We’ve some sensitive industries too. We’re now looking into the Bangladesh’s request. Duty-free coverage is being expanded every year,” he said.

Cho said a Korean business team will visit Bangladesh later this year or early next year. The team will explore the possibility of buying more and investing more in Bangladesh.

In 2009, the two-way trade between Bangladesh and South Korea was recorded at US$ 1,186 million, of which the Korean export was US$ 1,064 million and the import an insignificant US$ 122 million.

Asked about ROK investment, the envoy said Korean companies are interested in putting money in various sectors including development of coal mine and coal-based power plants. He, however, spoke about the urgency of finalizing the coal policy first.

Recently, he said, Hyundai Heavy Industries signed a contract with the Bangladesh government to build a 70 MW power plant at Bera, Pabna.

During the Prime Minister’s visit, Cho said the two countries agreed to further expand defence cooperation including training, exchange of visits and collaboration in the defence industry.

Asked about purchase of military hardware from Korea, he said Seoul is willing to sell military hardware including naval frigates. The two defence ministries need to discuss and work on it.

About the green technology, the Ambassador said President Lee is champion of green grow, and Korea is investing huge money in this area. Korea now has a US$ 200 million East Asia Climate Change Cooperation Fund. The fund aims to support the developing countries to cope with the climate change and adopt the green grow policy.

If any country comes up with good climate change projects, assistance is provided from this fund in the form of training and technical assistance, he said.

UNBconnect... - ROK to give Bangladesh US$200 million soft loan, increase annual grant assistance to $10 mn

Sorry we aren't exactly in a mood for charity. If you don't want to work towards building your economy that's your problem.

 

[anathema]

Here is the news of South Korea provided loan to Bangladesh inmuch lower (virtually free) rate and no robery attempt.

I brought a car recently - A fine car - Acura. I applied for loan from three banks.
1) Bank of America.
2) HSBC
3) Credit Union

BoA was giving me interest rate of 7%,
HSBC - 6.7%
Credit Union - 4.5%

I clearly went with Credit Union who was offering me the lowest ! But does this mean, i should say that BoA and HSBC were attempting to rob me !!! NO ! Their risk appetite is different from Credit Union and thats that ! Companies like BoA survived the economic crash due to their strict lending policy whereas many credit unions/small banks closed out due their lending out money at too cheap rates and too often !

Maybe RoK has a much bigger risk apetite - they can afford to give me that much money at a cheaper rate ! India still has its poor/toilets (in chinese posters words) to take care off -- we really cant lend money like alms where the people of our own country is in need of help.

Thank you, next time please take the bowl to RoK and not to us.

 

[whocares]

I brought a car recently - A fine car - Acura. I applied for loan from three banks.
1) Bank of America.
2) HSBC
3) Credit Union

BoA was giving me interest rate of 7%,
HSBC - 6.7%
Credit Union - 4.5%

I clearly went with Credit Union who was offering me the lowest ! But does this mean, i should say that BoA and HSBC were attempting to rob me !!! NO ! Their risk appetite is different from Credit Union and thats that ! Companies like BoA survived the economic crash due to their strict lending policy whereas many credit unions/small banks closed out due their lending out money at too cheap rates and too often !

Maybe RoK has a much bigger risk apetite - they can afford to give me that much money at a cheaper rate ! India still has its poor/toilets (in chinese posters words) to take care off -- we really cant lend money like alms where the people of our own country is in need of help.

Thank you, next time please take the bowl to RoK and not to us.

dude, 1.75 is not a market credit rate, so risk/reward analysis doesn't apply. its a soft loan. the bang dude just wants it even softer and i don't think he knows how risk / interest rate works anyway.

 

[Guynextdoor]

I brought a car recently - A fine car - Acura. I applied for loan from three banks.
1) Bank of America.
2) HSBC
3) Credit Union

BoA was giving me interest rate of 7%,
HSBC - 6.7%
Credit Union - 4.5%

I clearly went with Credit Union who was offering me the lowest ! But does this mean, i should say that BoA and HSBC were attempting to rob me !!! NO ! Their risk appetite is different from Credit Union and thats that ! Companies like BoA survived the economic crash due to their strict lending policy whereas many credit unions/small banks closed out due their lending out money at too cheap rates and too often !

Maybe RoK has a much bigger risk apetite - they can afford to give me that much money at a cheaper rate ! India still has its poor/toilets (in chinese posters words) to take care off -- we really cant lend money like alms where the people of our own country is in need of help.

Thank you, next time please take the bowl to RoK and not to us.

Dude forget it. These guys are asking us why we aren't giving them 50 Year long soft loans at .01% interest...so no point.

 

[0.o]

In name of providing loan india actually setting debt trap in Bangladesh and Awami regime acting subsurviently pushing Bangladesh to that trap. This $ 1 billion will be used for facilitate indian transit facilitites throgh Bangladesh yet Bangladeshi tax payers has pay for indian benefit. What kind of claimed to be "elected" govt will do such a subsurvient act against its own people?

Highlight on how this is indian robbery rather than loan and how Bangladesh paying for indian development.


1) 1.75 per cent annual interest and 0.50 per cent commitment (penalty if Indian transit facility implementation is delayed) fee

2) Bangladesh government has to repay the loan within a period of 20 years with five years grace period would be provided for the credit

3) Bangladesh would have to procure goods and services at the rate of atleast 85 per cent of the total funds from India.

4) Loan would be spent for upgrading Bangladesh's infrastructure designed to set up for Indian transit facilities


$1b Indian credit spending modalities finalized

So for you,everything and anything India is doing in Bangladesh is hurting you?
Instead of thanking us,you are more on bashing us.

 

[billi]

May god bless you guys, from this hegemony!

Once a loan, is always a loan............

thats why Pak never takes loan , only begs for money from US