They condemn the move as a ‘blow to press freedom’
Bangladesh in $350m credit deal with Korea to fund infrastructure development projects
Bangladesh has signed a $350 million loan agreement with South Korea to fund its infrastructure development projects.
Published : 19 Nov 2015, 06:02 PM
Updated : 19 Nov 2015, 06:02 PM
The Korean embassy says this money will be spent on social, economic and industrial development projects.
Those include the construction of a general hospital at Bangabandhu Sheikh Mujib Medical University and the purchase of locomotives and passengers carriages for the railways.
The loan carries a 0.01 percent interest rate with 40 years of reimbursement period and another 15 years of grace period.
It will be disbursed under the Economic Development Cooperation Fund (EDCF) Framework Arrangement.
New Korean Ambassador Anh Seung-doo and Economic Relations Division Senior Secretary Mohammad Mejbahuddin signed the agreement on Thursday at the ERD office.
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