Bangladesh will pay russia in Chinese yuan for the construction of a nuclear power plant
The Bangladeshi authorities, together with Rosatom, have already begun the construction of the first of two nuclear power units as part of a $12.65bn project
Bangladesh and russia have agreed to use Chinese yuan to pay for the construction of a nuclear power plant.
Source. Reuters, citing an official of the South Asian country's Ministry of Finance.
"russia wanted us to make payment in rubles but that's not possible for us. So we have agreed to pay in Chinese yuan," Uttam Kumar Karmaker, a senior official in the Bangladesh Economic Relations Division, told Reuters.
Bloomberg reported on Tuesday, citing two unnamed sources in the capital Dhaka, that the russian side would be paid about $300 million in yuan and that the nuclear power plant was to be built near the Bangladeshi capital.
The Bangladeshi authorities, together with the russian state-owned company Rosatom, are currently building the first of two nuclear power units as part of a $12.65bn project.
The construction is being financed by 90% with a 28-year loan from russia with a 10-year grace period.
The construction of its own nuclear power plants in the country is expected to help Bangladesh cope with frequent power outages.
Background. Meanwhile, it is reported that nuclear power plants in Europe are increasingly refusing to use russian uranium.
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