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Modi announces $4.5 bn line of credit to Bangladesh

By Newsd
Updated on :
Source: The Indian Express

Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina held bilateral talks at Hyderabad House in Delhi on Saturday and inked 22 pacts in various key sectors, including a civil nuclear cooperation agreement.
India has announced a credit line of $4.5 billion for investment in Bangladesh.
“We are happy to announce a concessional line of credit of $4.5 billion for investment in priority sectors in Bangladesh,” PM Modi said during a joint statement at Hyderabad House.
Narendra Modi also announced $500 million credit line towards Bangladesh’s military budget.
He said India wanted to build cooperation in new areas with Bangladesh “especially in some high-technology sectors which would include working in the fields of electronics, IT, cyber security, space explorations and civil nuclear energy”.
Narendra Modi also praised Bangladeshi government’s ‘zero-tolerance’ policy towards terrorism and termed it as an inspiration for all.
“While our partnership brings prosperity to our people, it also works to protect them from forces of radicalisation and extremism. Their spread poses a grave threat, not just to India and Bangladesh but to the entire region. Prime Minister Sheikh Hasina’s firm resolve in dealing with terrorism and her government’s ‘zero-tolerance’ policy towards terrorism is an inspiration for all of us,” he said.
The two prime ministers jointly flagged off the Maitree Express, which will run between Kolkata and Khulna.

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