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India announces $4.5 billion line of credit to Bangladesh

line of credit

New Delhi: Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina held bilateral met in Delhi on Saturday, signing 22 agreements including a 500 million dollar line of credit to Dhaka for the purchase of military hardware.

India also extended another 4.5 billion dollars in a line of credit to Bangladesh for infrastructure projects, taking the total line of credit extended by India to over 8 billion dollars over the last few years.

“India has always stood for the prosperity of Bangladesh, we are a long standing and trusted development partner of Bangladesh,” PM Modi said.

On the issue of Teesta water sharing issue, PM Modi said he was hopeful of an “early and acceptable solution” with the Bangladesh government.

The two prime ministers jointly inaugurated via video link the new bus service between Kolkata and Dhaka via Khulna in Bangladesh.

They flagged off the Maitree Express, which will run between Kolkata and Khulna, while also restoring the defunct Radhikapur-Khulna passenger train service, which is set to resume in July 2017 after an interval of nearly 70 years.

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