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Chinese money starts to flow in

Beijing releases $174.11m for two projects

Jagaran Chakma
**China disbursed $141mfor multi-lane road tunnel under the Karnaphuli river and $33.Um for Info Sarker project***
China has released $174.11 million, the first of its disbursements for the 27 projects it committed to bankroll for $22.5 billion during its president's visit to Dhaka in October 2016.
In February, the Chinese embassy in Dhaka handed over the amount, which is 20 percent of the total costs for two of the projects, said AKM Matiur Rahman, joint secretary ofthe Economic Relations Division.
The Exim Bank of China releases funds twice a year: every six months. "So, we will get another instalment after six months."
The Chinese lender disbursed about $141 million for the multi-lane road tunnel under the Karnaphuli river project and $33.11 million for the third phase of the Info Sarker project.
The Karnaphuli river tunnel project will be implemented by China Communications Construction Company, as decided by the Chinese government.
The tunnel will connect the proposed Asian Highway to the Dhaka-Chittagong-Cox's Bazar Highway and the Chittagong Port and Anowara upazila.
It is expected to facilitate communication between Chittagong and Cox's Bazar and ease traffic movement on two bridges over the Karnaphuli river.
The length of the four-lane tunnel will be 3.5 kilometres while the approach road
on both sides of the river will be about 6 kilometres.
The government signed a deal for the $ 156.56 million Info-Sarker Phase-111 with Chinese state-owned China Railway International Group Company in September 2017.
The project's third phase aims to establish the government's ICT network to the lowest tier of the administration.
Bangladesh Telecommunications Company Ltd has established optical fibre connectivity to up to 1,213 unions out of 4,585 unions in the country.
The Info-Sarker Phase-Ill, which is scheduled to complete by December this year, will bring another 2,600 unions under the connectivity.
Rahman also said the loan agreement for the Padma rail link project will be signed this month. About the progress of other projects, he said negotiations are underway.