Russia’s State Duma ratifies protocols to Russia-Bangladesh credit agreements

Business & Economy February 17, 16:13

The four protocols concern the provision to the Government of Bangladesh of a state export credit to finance the preparatory phase for the construction of a nuclear power plant in Bangladesh

MOSCOW, February 17. /TASS/. Russia’s State Duma has ratified a number of protocols to the credit agreements between the governments of Russia and Bangladesh.

The four protocols concern the provision to the Government of Bangladesh of a state export credit to finance the preparatory phase for the construction of a nuclear power plant in Bangladesh.

In accordance with Article 127 of Russia’s Budget Code, the protocols are subject to ratification because they provide for the restructuring of a foreign state’s debt to Russia, according to the conclusion of the State Duma Committee on International Affairs.

"The ratification of these protocols will facilitate the settlement of debt obligations to Russia, as well as the further development of economic and scientific-technical cooperation between Russia and the Bangladesh in the field of the peaceful use of atomic energy, which serves the interests of Russia," the committee’s conclusion states.

"Thanks to these intergovernmental arrangements, it was possible last year to ensure revenues to the federal budget in an amount equivalent to $459 mln," Russian Deputy Finance Minister Vladimir Kolychev said at a plenary session of the State Duma.

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