In recent times, China’s one belt one road initiative has triggered a storm. Called the silk road of the 21st century, the project will cost $ 1 trillion. While India, Sri Lanka and Nepal have taken contradictory positions on the road, an idea of Bangladesh’s position became evident recently at an international seminar held in Nepal.
India is opposed because a part of the road goes through Azad Kahsmir in Pakistan, which India claims as her territory.
In such a state, Bangladesh has to maintain a strategic balance between India and China so as not to antagonize any side.
Dr. Selim Raihan, professor of economics at Dhaka University, who went to the seminar, said: “other countries thought that the road cost will be borne by China – a sort of free lunch.”
But now it seems that the infrastructure will not be made by China alone, instead, she will give loans at easy conditions to other countries, added the economist.
Dr. Prabir Dey of an Indian think tank, says: “Sri Lank has become embroiled in a debt trap by taking loan from China for constructing Hambantota port and airport. This has disconcerted other nations.”
Two years ago, Chinese president gave Bangladesh a $ 30 billion blank cheque which now appears to be not a full grant but a combination of grant and loans, said Selim Riahan.
In Bangladesh, both India and China work side by side; a solid example is Pyra where companies from both sides are working together.
The economist feels that despite current misgivings, Indian participation in the Belt Road Initiative is not impossible.