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Economy

Xi pledges $20bn to Bangladesh for infrastructure, dwarfing Indian offer

NEW DELHI -- Chinese President Xi Jinping on Friday promised Bangladesh some $20 billion in loans for infrastructure projects, one-upping an Indian aid package from last year in a bid for greater regional influence.

Xi met with Bangladeshi Prime Minister Sheikh Hasina while visiting the South Asian country, signing 27 agreements on cooperation and aid for such infrastructure projects as power plants, ports and railroads. The two leaders also witnessed the unveiling of six projects, including a multilane tunnel beneath the Karnaphuli River in Chittagong, from the prime minister's office in Dhaka.

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