China may lend Bangladesh $40b

China is expected lend Bangladesh a record $40 billion and the loan agreements is likely to be signed during President Xi Jinping’s Bangladesh tour next week, officials have hinted.

 "Loan agreements of a record amount will be signed," State Minister for Finance and Planning MA Mannan has said.

Xi will visit Bangladesh from October 14. He is scheduled to arrive at Hazrat Shahjalal (RA) International Airport in the morning.

Mannan would not disclose the total amount of credit.

He said China expressed its willingness about extending the loans after seeing the possibilities that lie in Bangladesh.

"The prime minister`s leadership has brightened Bangladesh`s image in the world. Bangladesh is a development surprise to the world," he said.

An official of the finance ministry said the loans would total $40 billion. He spoke on condition of anonymity because he was not authorised to speak to the media on the issue now.

According to him, China sent an initial list of 21 projects it wants to invest in through its embassy in Dhaka on Tuesday.

If no big policy changes happen, this list will be final, the finance ministry official said, quoting Chinese officials, according to bdnews24.com.