A nuclear power plant that Moscow is building in the South Asian country is being paid for
Yuan, Chinese currency
Portal Bangladesh and Russia have agreed to use the yuan to settle payments for a nuclear power plant Moscow is building in the South Asian country, a Bangladesh government official said on Monday.
Bangladesh is building the first of two nuclear power plants in cooperation with Russian stateowned Rosatom in a $12.65 billion project funded 90% by a Russian loan repayable over 28 years with a 10year grace period can be.
>>> Lula’s speech against dollar supremacy is highlighted in the Financial Times: “Can’t we trade with our own currencies?”
“Russia wanted us to make the payment in rubles, but this is not possible for us. So we agreed to pay in Chinese yuan,” Uttam Kumar Karmaker, a senior official at Bangladesh’s Department of Economic Relations, told Portal.
PROCEED TO RECOMMENDATIONS
The project will help mitigate frequent power outages, which analysts expect will worsen this year as Bangladesh’s ability to import fuel has been impacted after a rapid depreciation of its currency and foreign exchange reserves.
knowledge liberates. I want to become a member. Follow us on Telegram.