The Maldives will be borrowing US$ 200 million from Bangladesh.
As per media reports by Bangladeshi news agencies, senior officials from the Maldives government, and high-level executives from Bangladesh's central bank, Bangladesh Bank (BB), recently met and discussed the loan. However, the bank has not disclosed the interest rate and repayment schedule.
Maldives' interest in a loan was announced by Bangladesh's Governor Fazle Kabir. The discussions took place during President Ibrahim Mohamed Solih's visit to Bangladesh earlier this year.
Among Southeast Asian countries, Bangladesh is one of the countries where foreign currency is most abundant. Bangladesh recently reached a currency swap agreement for US$ 250 million with Sri Lanka. This is the highest amount of money given to a single country by Bangladesh. The US$ 200 million loan to the Maldives will become the most significant loan extended by Bangladesh.
While Bangladesh is preparing to give a loan to the Maldives, the country's Prime Minister, Sheikh Hasina, is slated to travel to the Maldives on an official visit later this month.
