The Export-Import Bank of China is considering classifying the joint-venture Bangladeshi power company as a defaulter due to persistent loan-repayment delays. Bangladesh-China Power Co (Pvt) Ltd (BCPCL), a collaboration between North-West Power Generation Company Limited and China National Machinery Import and Export Corporation, faces potential default status as it has repeatedly missed loan repayments.
The Chinese bank issued a warning, stating that failure to make the full payment of the current $140.892 million 6th installment by December 8 would result in marking the company as a defaulter. BCPCL attributes the delays to a shortage of foreign-currency reserves, but the Chinese bank emphasizes the potential adverse impact on other ongoing projects in Bangladesh under its finance.