PM Modi announces credit of $4.5 billion to Bangladesh

Prime Minister Narendra Modi on Saturday announced $500 million (around Rs 3,200 crore) line of credit to Bangladesh for defence. In addition, he further announced that a new concessional line of credit of $4.5 billion for implementation of projects in Bangladesh.

PM Modi made these announcements while issuing the joint statement with Bangladesh PM Sheikh Hasina who arrived in India on Friday.

“We are happy to announce new concessional line of credit of $4.5 billion for implementation of projects in priority sectors in Bangladesh,” PM Modi said. He further said India wants to build co-operation in the new area, especially in high technology area. “We held productive talks on wide-ranging issues including on civil nuclear cooperation,” he added.

“Energy security is an important dimension of India-Bangladesh development partnership and it continues to grow,” he said.

India and Bangladesh signed 22 agreements in various key sectors during the bilateral press conference between the two nations in Delhi.

The two leaders along with West Bengal Chief Minister Mamata Banerjee inaugurated two rail and a road connectivity project via video conference.