Russia Grants $1 Billion Loan to Bangladesh for Weapons

Posted January 15th, 2013 at 12:00 pm (UTC-5)
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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.