Bangladesh received the green light from the International Monetary Fund (IMF) in late January 2023 to disburse a $4.7 billion loan. The loan has been granted for 42 months and is attached to help maintain the country’s economic stability. Recently, this Asian tiger has been struggling with crisis, foreign currency shortages and energy problems.
This phenomenon is recognised by other players in the region, including Russia. Construction of the country’s first nuclear power plant has started in Ruppur. The Bangladeshi authorities have entered into an agreement with the Russian state-owned company Rosatom for this purpose. The Russians have offered to provide a low-interest loan to finance the bulk of the investment. According to the plans, two reactors – with a capacity of 1,000 MW each – are to be built in Ruppur.
Energy is not the only sphere of cooperation between the two countries. Following the lifting of a ban on Bangladeshi potato imports to Russia by the Russian authorities, Bangladesh’s Ministry of Agriculture announced the urgent resumption of supplies.