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International relations

Bangladesh urges China loan tweaks amid scrutiny of BRI bailouts

Sources say letter asks to amend cancelation, dispute, maturity and fee policies

Bangladesh aims to build a China-backed water treatment plant, but it hopes to secure better loan terms first. (Source photo by Reuters)

DHAKA -- Bangladesh is poised to finalize a new loan from China for a water treatment plant, but first Dhaka is pushing for changes to conditions it deems to be against its interests.

The new $276 million "tied loan" -- for a specific project whose contractor is chosen by the Chinese side without a competitive tender -- will be supplied by the Export-Import Bank of China. A signing ceremony is expected sometime in April, bringing years of talks to completion.

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