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CDB to finance 100 mln USD of telecom network construction in BangladeshDHAKA, Jun 14, 2010 (Xinhua via COMTEX) -- The China Development Bank (CDB), the largest bank for international investment and financing in China, will provide 100 million U.S. dollars' loan to construct telecom network in Bangladesh. A memorandum of understanding (MOU) was signed on Monday among the CDB, Bangladesh telecom operator Robi and Chinese supplier Huawei during Chinese Vice President Xi Jinping's official visit to Bangladesh. Xi Jinping arrived in Bangladesh's capital Dhaka Monday for a 2- day official visit to the South Asian country at the invitation of Bangladeshi Prime Minister Sheikh Hasina. According to the MOU, the CDB will provide Robi 100 million U.S. dollars' loan with the purpose of purchasing telecom equipment from Huawei to expand its telecom network and improve the mobile services. The CDB, which has already provided 260 million U.S. dollars worth of loans to Bangladesh telecom operators, places great emphasis on its business development in Bangladesh. All sides believe the signing of the MOU will strengthen the economic and financial cooperation between the two countries, and will also promote the development of Bangladesh's infrastructure. Chen Yuan, president of the CDB, Yafez Osman, Bangladeshi state minister for science, information and communication technology were present at the signing ceremony. |