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Dhaka Tribune

Bangladesh uses Taka for the first time to settle foreign bill

This initiative has been taken in order to reduce the pressure of the forex reserve

Update : 08 Jun 2023, 04:17 PM

Bangladesh has used the Taka to pay a foreign bill for the very first time.

The government has successfully convinced China to pay 15% of the Dhaka-Ashulia Elevated Express Project in Taka.  

This initiative has been taken in order to reduce the pressure of the forex reserve.

Project Director Shahabuddin Khan confirmed this information to the media.  

“We have been able to convince them (China) to receive the payment in our currency. They can spend the money in Bangladesh,” he also said.

“Considering the present situation, they have accepted our proposal,” he added.

The expenditure of the elevated expressway has been estimated at Tk17,653 crore ($102 million). 

Some 85% of the total cost has been financed by China. 

The interest rate is 2%. 

The government has to pay the money gradually in 20 years.

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