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Russia to issue $1bln loan to Bangladesh to buy Russian arms

January 15, 2013, 16:31 UTC+3
In addition Russia will grant a loan worth 500 million U.S. dollars to Bangladesh for the construction of a nuclear power plant
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MOSCOW, January 15 (Itar-Tass) — Russia will issue a one-billion-U.S. dollar loan to Bangladesh to buy Russia-made arms, according to Russian President Vladimir Putin.

“Russia will issue a loan to Bangladesh worth one billion U.S. dollars that will be used to buy Russian weapons and military hardware,” Putin told journalists after his talks with Bangladeshi Prime Minister Sheikh Hasina on Tuesday.

Investments in a joint project of Russia’s gas giant Gazprom and Bangladeshi Petrobangla Corporation will make up 193 million U.S. dollars, Russian President Vladimir Putin told reporters, summing up results of his talks with Prime Minister Sheikh Hasina.

The project envisages a drilling of ten gas wells in Bangladesh. According to the Russian president, the project will make it possible to raise gas production in Bangladesh to 56 million cubic metres a day.

In addition Russia will grant a loan worth 500 million U.S. dollars to Bangladesh for the construction of a nuclear power plant. A relevant agreement was signed in the format of Bangladeshi Prime Minister Sheikh Hasina’s official visit to Russia on Tuesday.

During the visit, the two sides signed eleven documents.

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