India extends $2bn credit line to Bangladesh


INDIA has signed an agreement extending $2 billion in development financing to Bangladesh, the Indian government’s external lending arm said on Thursday, in the agency’s biggest ever credit facility to another country. The deal, signed on Wednesday (March 9) in Dhaka, came after Prime Minister Narendra Modi’s announcement of the new credit line to Bangladesh during his Dhaka visit in June last year. It follows India’s $1 billion in assistance provided to Bangladesh in 2011 for infrastructure development. The credit line would be used to finance development in the power sector, railways, road transportation, information and communication technology, shipping, health…

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