India extends $4.5 billion line of credit to Bangladesh

09 April, 2017, 02:35 | Author: Brian Mcdaniel

In a strong message, India and Bangladesh today called for strong action against States and entities which encourage, support and finance terrorism, provide sanctuaries to terror networks and falsely extol their virtues.

The Bangladesh Prime Minister arrived in the national capital yesterday on a four-day visit to India.

State irrigation minister Rajib Banerjee says, "We hope that both countries come to an amicable situation the issue has been pending for several years".

The civil nuclear pacts included cooperation in peaceful uses of nuclear energy, one between the atomic energy boards of the two countries and another for a nuclear energy partnership.

India and Bangladesh signed 22 agreements in various key sectors during the bilateral press conference between the two nations in Delhi. I am also happy to announce a Line of Credit of 500 million USA dollars to support Bangladesh's defence related procurement.

"We discussed all aspects of our ever growing relationship to enhance our understanding about mutual concerns and priorities", she said. "India and Bangladesh are also determined that the fruits of our cooperation must benefit our people", said Modi. He said this was "important for India, for Bangladesh and for India-Bangladesh relationship".

India would partner Bangladesh in the goal of power for all by 2021. 60MW power was added today; the supply of 500MW is already committed. "We have also promised zero patience against terrorism and violent acts". We are encouraging private sectors in both our countries to enter this space.

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On the agreements, Ranganathan said another pact on formalising regular defence engagements will also be signed.

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

Modi added "Steps are being taken to put into operation the coastal shipping agreement". "Prime Minister Modi reiterated that his government is working with all stakeholders in India for an early conclusion of the Agreement".

He said that 17 projects have been identified for utilisation of the new line of credit.

Even as he announced a number of schemes for "Muktijoddhas" of 1971 and their kin, Modi said, "The Indian Army never shied away from its duty and set an example by following conventions of the war".

Both sides also resolved to work closely in furthering regional and sub-regional cooperation processes. "In this, a major part of the effort has to be from the business and industry of the two countries", he said.

It was for this reason that India had recently liberalised its visa regime, making it very easy for Bangladeshi citizens to get visa for visiting India.

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