China to provide $72.5m grant for welfare projects

China will provide a grant of RMB 500 million or approximately $72.57 million to Bangladesh under an agreement on economic and technical cooperation.

Monowar Ahmed, secretary to Economic Relations Division (ERD), and Chinese Ambassador to Bangladesh Zhang Zuo signed the agreement at Central Procurement Technical Unit yesterday.

The grant shall be utilised for welfare projects such as disaster management and bridge construction, according to an ERD statement. Detailed matters would later be stipulated in separate agreements, it said.

Ahmed said economic relations between Bangladesh and China were gaining greater significance. He urged the Chinese ambassador to take initiatives to quickly implement commitments in the pipeline for Bangladesh's development.

Zuo said the friendship between the two countries was a long lasting one and China always gave great importance to development assistance for Bangladesh.

He said China would continue its support in developing Bangladesh's economy. He said they would jointly push forward construction of three more “friendship bridges” in Bangladesh, bringing the total to 11.

Other important projects or purchases completed with Chinese grant include an international standard conference centre, agricultural equipment, cooperation on hybrid rice technology, medical equipment, dredger and scanner for customs, said the statement.

Ongoing ones include construction of China-Bangladesh Friendship Exhibition Center at Purbachal, a burn unit at Chattogram Medical College, rescue equipment for fire service and flood management planning.