Bangladesh and the Export–Import Bank of China signed a financing agreement on 10 October for the modernisation of Mongla port. The loan is worth 2.404 billion yuan, or $335.78 million, according to BSS, citing the Economic Relations Division.
The Mongla Port Authority will implement the project. Plans include two container terminals, a container yard, a delivery yard and a cargo-handling yard.
The loan carries 2% interest and a 20-year repayment period, including a five-year grace period. Signing the agreement secures project financing; it does not mean that construction is complete or that the new capacity is operating.