Bangladesh wants to implement the Teesta master plan with the help of China. For this, Dhaka has also sought a loan from the country. Beijing is also interested in this project. A technical expert team from China is coming to Bangladesh in the next few months to verify the Teesta project on the spot.
This information was given by Chinese Ambassador to Dhaka Yao Wen in a discussion with Foreign Secretary Asad Alam Siam this morning.
According to diplomatic sources, Bangladesh has sought a loan of about 550 million dollars from China to implement the Teesta master plan. And the country is positive about this loan. In view of this, Yao Wen told Asad Alam Siam that China is keenly interested in this project. Bangladesh has also taken the matter positively.
The Chinese ambassador said that they are working with the Economic Relations Department (ERD) of the Ministry of Finance on the Teesta project.
In addition, the meeting discussed the updated status of the decisions taken by Chief Advisor Professor Muhammad Yunus during his visit to China. In addition, other projects including the construction of hospitals in Bangladesh funded by China were also discussed.
# Meeting of Chinese Ambassador with Foreign Secretary # China is sending a technical expert team
In addition, China had already invited Bangladesh to join the Global Governance Initiative (GGI) taken by Chinese President Xi Jinping. The details of the GGI and the Chinese President’s interest in this initiative were shared with the Foreign Secretary. And after the July uprising, Chinese investment in Bangladesh has increased to about $800 million, which is the highest, Yao Wen said.
After the Chief Advisor’s visit to China last March, the interim government started working to advance the Teesta project. In view of this, the Ministry of Water Resources sent a letter to the Planning Commission in May. In it, it informed about the issue of taking a loan from China to implement the Teesta project. Later, the ERD sent a letter to the Chinese Embassy last July. In the letter, Bangladesh has asked China for $550 million to implement the ‘Comprehensive Management and Restoration of Teesta River Project’. Dhaka wants to sign the financial agreement for the project within this year. Work is moving forward towards this goal.
China and India have shown interest in implementing the Teesta Master Plan in the past. During a visit to Bangladesh in early May 2024, India’s then Foreign Secretary Vinay Koirala expressed India’s interest in investing in the Teesta project. The ousted Awami League government also wanted India to finance the project.
At a press conference held at Ganabhaban on July 14, 2024 regarding the China visit, the then Prime Minister Sheikh Hasina said, ‘China is ready, but I want India to do it. If this project is done, India will provide whatever is needed for this project. Is that right? That is clear, there is no hiding behind it.’
The implementation of the first phase of the Teesta project will cost $750 million. Of this, a loan of $550 million has been sought from China. The rest will be funded by the government. The project is scheduled to start in 2026 and be completed in 2029.
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