Bangladesh is the latest nation to become ensnared in China’s debt strategy, following in the footsteps of Sri Lanka and Pakistan. The Bangladeshi interim government has opted to secure a loan of 6700 crore taka from China. These funds are earmarked for the Teesta project, a venture with strong ties to India.
The Teesta project has gained momentum since a visit by Bangladesh’s chief advisor, Professor Muhammad Yunus, to China. Financial agreements between the two nations regarding the project are anticipated to be signed by the close of the year. The project has attracted attention from both China and India.