China has withdrawn its BRI (Belt and Road Initiative) funding for railway projects in Bangladesh, after the recipient country proposed significant cuts in costs. This happened amidst increasing tension between the two countries.
According to media reports, the government of Prime Minister Sheikh Hasina found that Chinese companies were charging three times the normal price for construction, and slashed $5.72 billion from the China-funded Akhaura-Sylhet and Joydebpur-Ishwardi railway projects that are part of the BRI agreement signed between the two countries.
