Chinese Government provides RMB 100 million interest-free loan for Bangabandhu International Convention Centre Construction Project (Linked to Record ID#33940)

Project narrative

On April 2, 2000, the Government of Bangladesh and the Chinese Government signed an RMB 100 million interest-free loan agreement for the China-Bangladesh Friendship Conference Center Construction Project. The total cost of the project was 2 billion taka. The loan carried the following borrowing terms: a 0% interest rate, a 10-year grace period, and a 15-year maturity. According to the Government of Bangladesh’s Economic Relations Division (ERD), the loan had achieved a 100% disbursement rate (RMB 100 million out of RMB 100 million) and the borrower had made repayments to the lender worth RMB 88,901,000 as of June 30, 2017. The multi-purpose conference center was designed by the Beijing Institute of Architectural Design and it included a construction area of 19,926 square meters. Construction began in 2000 and was completed in July 2001. The project was formally handed over to the Government of Bangladesh on January 12, 2002. Then, in 2002, the Chinese Government converted a portion of the loan (RMB 11.099 million) for this project into a grant. The China-Bangladesh Friendship Conference Center was renamed Bangabandhu International Convention Centre (Bangla translation: বঙ্গবন্ধু আন্তর্জাতিক সম্মেলন কেন্দ্র) in 2009. Record ID#33925 captures the interest-free loan that supported the project; Record ID#33940 captures the ‘grant’ (debt forgiveness) that supported this project.