Bangladesh, one of India’s closest allies in the neighbourhood, has smartly avoided falling into the Chinese debt trap. Drawing lessons from experiences of Nepal, Sri Lanka and Maldives, it has decided to construct its biggest infrastructure project from its own finances.
Seen as a major achievement of Prime Minister Sheikh Hasina as she seeks re-election, the 20-kilometre-long rail and road bridges over Padma river are being built by self-generated funds to the tune of about Rs 30,000 crore in local currency. The bridges, along with connecting highways over what is often described as one of the world’s most treacherous rivers, are expected to be completed in the next few years. Read More