Indian Cabinet approves MoU on Third Line of Credit of US $ 4.5 billion to Bangladesh for implementation of developmental projects

0
1165
PM Modi (India)and PM Sk.Hasina (Bangladesh)
PM Modi (India)and PM Sk.Hasina (Bangladesh)
0 0
Azadi Ka Amrit Mahoutsav

InterServer Web Hosting and VPS
Read Time:1 Minute, 3 Second

Cabinet approves MoU on Third Line of Credit of US $ 4.5 billion to Bangladesh for implementation of developmental projects

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to the Memorandum of Understanding (MoU) on Third Line of Credit (LoC) of US $ 4.5 billion to Bangladesh for implementation of developmental projects.

The MoU was signed during the visit of the Prime Minister of Bangladesh to India in April 2017.

The MoU provides for deepening the strategic partnership, development of infrastructure in Bangladesh, improving connectivity between India and Bangladesh, thus enhancing accessibility to our North Eastern Region, as well as creating new business opportunities for Indian companies in Bangladesh.

The concessional financing system to Bangladesh would strengthen bilateral relations and development cooperation between India and Bangladesh.

The MoU specifies a list of projects which will be undertaken under the concessional financing system. This provides an opportunity to ensure that projects of India’s interest are undertaken under this LoC.

Some of the projects will ensure better and faster connectivity to the North Eastern region of India with the mainland as well as to the outside world. They will also ensure India’s security and will open up business for Indian companies.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Advertisements

USD