Bangladesh for the first time used its own currency BDT (Bangladeshi Taka) to clear its payment for Dhaka-Ashulia elevated expressway project. 

According to sources, Bangladesh made the 15 per cent payment by BDT. 

Project manager Sahabuddin Khan confirming the matter said the initiative will reduce pressure on foreign currency reserves.

He said the Bangladesh government has managed China regarding the payment of the Dhaka-Ashulia Elevated Expressway by Taka.

"We managed to convince them to accept the bill in Taka, and this amount they can later invest in Bangladesh," he said.

"China accepted our proposal considering the current situation of the country, he also said.

Until the situation of the country improves this process of paying bills will continue, added Sahabuddin.

According to project information, a 24km elevated expressway connecting Dhaka to Ashulia is being constructed at a cost of Tk 17,653 crore (around $1.2 billion).

China is providing 85 per cent of the total cost as a loan at 2 per cent interest, payable in 20 years.

The Export-Import Bank of China is paying the loan part in US dollars to the Chinese contractor, China National Machinery Import & Export Corporation, which is implementing the project.

BDST: 1651 HRS, JUNE 07, 2023
MSK/SMS