Bangladesh-India ink $4.5bn 3rd LoC deal

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PV Desk : Bangladesh today signed $4.5 billion third Line of Credit (LoC) agreement with India to enable the implementation of a number of key infrastructure priority projects.

Economic Relations Division (ERD) Secretary and Managing Director of Indian EXIM Bank signed the agreement on behalf of their respective sides at the Finance Ministry in presence of Finance Minister AMA Muhith and Indian Finance and Corporate Affairs Minister Arun Jaitley.

During the visit of Prime Minister Sheikh Hasina to India in April 2017, the Indian Line of Credit of $ 4.5 billion was announced for Bangladesh.

This will bring the total quantum of credit lines extended by India to Bangladesh over the last six years to $8 billion.

The Joint Interpretive Notes on the agreement between the two countries was also signed at the ministry to promote and protect of investments.

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