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Old January 15, 2013, 02:14 PM
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Default Russia Grants $1 Billion Loan to Bangladesh for Weapons
Russia has granted a $1 billion loan to Bangladesh for the purchase of Russian-made weapons.

The deal was signed Tuesday in Moscow during a meeting between Russian President Vladimir Putin and visiting Bangladesh Prime Minister Sheikh Hasina.

Details on the possible weapons purchases were not released, but reports say the new agreement could include orders for air defense systems, helicopters and weapons for ground forces.

In addition, Russia will provide a separate $500 million loan to Bangladesh for the construction of the country's first nuclear power plant in Ruppur, located 200 kilometers from the capital, Dhaka.

Russia has also agreed to provide financial support after the first stage of construction is complete.
Russia, the world's second-largest weapons exporter, has granted a $1 billion loan to Bangladesh for arms purchases, President Vladimir Putin said on Tuesday after talks with the country's prime minister, Sheikh Hasina.

"Our countries intend to broaden military-technical cooperation," Putin said, referring to weapons sales and servicing. He did not specify what weapons or military equipment Bangladesh would buy from Russia.

Russia will provide a separate $500 million loan to Bangladesh to help build its first nuclear power plant, Ruppur, under an agreement signed after the meeting, Putin said.

"We will not only provide the most up-to-date technology ... but we will also provide financial support for the construction of the nuclear power plant at the initial stage," he said.

The head of Russian state nuclear corporation Rosatom, Sergei Kiriyenko, said technical and environmental assessments would be carried out this year for the plant, which is to have two 1,000-megawatt reactors and be completed in the early 2020s.

He told reporters more loans would be required at later stages.

(Reporting by Alexei Anishchuk, writing by Gabriela Baczynska,; editing by Steve Gutterman)
Is this really necessary?

The country has so many other issues to address -- such as better infrastructure, communication, technology, skilled workforce and countless other things. But we are spending this huge sum on weapons when we don't face any direct military threat. Is Hasina trying to appease the defense department before the upcoming election? Have your say!!
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