$2 billion boost for India-Bangladesh ties

DHAKA: Taking developmental cooperation with Bangladesh to new heights and projecting New Delhi as a partner in the success of Dhaka, India’s Prime Minister Narendra Modi has unveiled a new line of credit of $2 billion for Bangladesh, the largest single LOC for any country committed by India.

The $2 billion LOC has raised the bar for India’s engagement with Bangladesh and is set to bring the two neighbours in a web of trade, connectivity and shared prosperity. The previous Manmohan Singh government had announced $1 billion Line of Credit during Sheikh Hasina’s visit to New Delhi in 2010.

“Our development partnership is scaling new heights. The quick implementation of the line of credit of $800 million and full disbursement of $200 million in grant is a tribute to our cooperation,” said Mr Modi at a joint media interaction with Sheikh Hasina.

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