Bangladesh signs $241.92M FA with China to buy four ships days before Election

In a major move just 96 hours before the 13th National Election, the interim government has finalized a USD 241.92 million framework agreement with China to procure four massive maritime vessels. The deal was signed today, Sunday, at the Economic Relations Division (ERD) by Chinese Ambassador Yao Wen and ERD Secretary Md Shahriar Kader Siddique.

The project, funded by Chinese concessional loans, involves the purchase of two crude oil mother tankers (priced at $151.96 million) and two mother bulk carriers ($89.96 million). While the government hails this as a step toward "maritime autonomy," the timing has triggered intense debate among policy analysts and political circles.

According to the Chinese Embassy, the acquisition is designed to:

Reduce Dependency: Lower the country's reliance on foreign-flagged vessels for transporting fuel and bulk cargo like coal and grains.

Economic Security: Stabilize supply chains for energy and raw materials amid rising global transport costs.

Capacity Building: Significantly expand the Bangladesh Shipping Corporation’s (BSC) transport capability, which officials say will provide long-term tangible benefits to the economy.

Ambassador Yao Wen described the agreement as a "milestone" in the deepening China–Bangladesh Comprehensive Strategic Cooperative Partnership, emphasizing China’s commitment to supporting Bangladesh's infrastructure and trade expansion.

Despite the economic arguments, the signing of such a high-value, long-term financial commitment on the very eve of a national election has drawn sharp criticism.

Experts and civil society members have expressed concerns that the interim administration, led by Chief Adviser Dr. Muhammad Yunus, is overstepping its mandate by finalizing major international deals that could bind the hands of the incoming elected government.

• Analysts point out that this China deal comes on the heels of reports regarding a "secret" trade pact with the US, suggesting a flurry of last-minute balancing acts.

• Critics argue that decisions involving 20-year loan repayments and strategic maritime assets should ideally be vetted by an elected parliament.

• Similar to the ongoing standoff at Chattogram Port and the controversy over the Education Act 2026, experts warn that "rushing" these frameworks without broad consensus may create administrative hurdles for the next administration.The Road Ahead

While the ERD confirmed that the loan agreement with the Export-Import Bank of China will be signed soon, the sudden acceleration of bilateral projects—ranging from port leases to military equipment and now massive shipping vessels—has become a focal point of election-week discourse.

As voters prepare to head to the polls on 12 February, the question remains whether these late-hour strategic commitments will be embraced or reviewed by the next government.