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Turkey offers Bangladesh $1bn for Infrastructure Loan

Dhaka, Bangladesh | February 22, 2010 by D-8 Secretariat

The large delegation of Turkish businessmen accompanying a recent presidential visit to Bangladesh was the proof of the importance of Bangladesh to Turkey. Turkey and Bangladesh pledged to increase the trade volume to exceed 1 billion dollars

The large delegation of Turkish businessmen accompanying a recent presidential visit to Bangladesh was the proof of the importance of Bangladesh to Turkey. Turkey and Bangladesh pledged to increase the trade volume to exceed 1 billion dollars

Turkey’s private asset management firm RHEA has offered a US$1-bn conditional loan to Bangladesh for winning infrastructure deals, Reuters reports.

RHEA also pledged a $5 million donation for health care and educational projects in Bangladesh if the government gives work orders to Turkish builders for building flyovers and bridges.

Turkish President Abdullah Gul (pictured) traveled to Bangladesh with a group of Turkish traders to announce the offer.

“The loan will be forwarded only when the government agrees to allow Turkish builders to construct the infrastructures,” Annisul Huq, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) told reporters.

The stance of the Bangladesh government was not known immediately on the pre-condition for the loan, but Reuters reported that finance ministry officials said the government might accept the offer because it is eager to build flyovers in Dhaka and elsewhere.

Gul, the first Turkish president to visit Bangladesh since 1999, arrived in Dhaka on Friday February 12, with an entourage of some 180 people, mostly businessmen and entrepreneurs.

Reuters notes that Turkey, frustrated by the slow progress of its bid to join the European Union, has seeking for new markets for its growing economy.

News Source: ICON review, D-8.

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One Response

  1. Mahmud Faqray Alam
    1:52 am on April 30th, 2010

    Sir, I have one Agriculture base project in Bangladesh. [Our view to centralize efforts in Fisheries, Livestock, Poultry & Agriculture development programs to improve of the local Farm.] My place is Bangladesh Village is MODHUPUR. Here have village-base possible business facilitate. Sir, I have limitation fund. This Fund I use for preparing 2 fish pond (3 hectors), cattle house (1,200 sqf) & purchase cattle (24 pcs), mango trees 1000 pcs, pineapple garden 5 hectors (1,50,000 pcs), banana 6 hectors (2,00,000 pcs), & 2 vehicle (2 & 3toncapacity lorry). Totally I use near about $1, 20,000 US dollar. Sir, you rote me.
    Sir, here if you invest for fish & agriculture project $2,00,000/$3,00,000 US dollar, I ensure you that, you must be annually can urn 45% (from fish, banana, milk) and return 25% to 35%. Because, my project is ready, only is my problem is fund.
    Sir, I invite you Bangladesh, & visit my project. When you visit project & satisfied then you take decision. Insha-allah, your can on investment (AROI) JV partnership and hard loan fund.
    I am wetting your mail.

    Than you
    Mahmud Faqray Alam
    Section-10, Block-B, Road-17, House-5
    Mirpur, Dhaka-1216.
    mahmudfalam@gmail.com

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