Bangladesh has secured a $335.78 million concessional loan from China's Export-Import Bank to expand and modernise Mongla Port, including the construction of two container terminals and dedicated yards for cargo handling.
The loan agreement, valued at RMB 2.404 billion, equivalent to Tk 3,592.90 crore or $335.78 million, was signed on 10 October, according to a press release issued by the Economic Relations Division (ERD) of the Ministry of Finance.
Alia Meher, joint secretary at the ERD, and Fengjun Tian, assistant general manager of China Exim Bank, signed the agreement on behalf of their respective sides.
Under the project, the Mongla Port Authority, under the Ministry of Shipping, will construct two container terminals equipped with modern machinery. The project also includes a container yard, a container delivery yard and a cargo-handling yard to improve the port's operational capacity.
China Exim Bank will provide the loan at a concessional interest rate of 2%, with a repayment period of 20 years, including a five-year grace period, the ERD said.
The project is expected to modernise port infrastructure, improve cargo-handling facilities and increase the overall capacity of Mongla Port, Bangladesh's second-largest seaport.
The expansion is expected to strengthen the port's ability to handle growing trade volumes and improve the efficiency of cargo movement, supporting Bangladesh's broader trade and logistics infrastructure development.
