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Bangladesh signed USD 4.5bn loan deal with India

Bangladesh signed third line of credit (LoC) worth USD 4.5 billion with India for its infrastructure and social sector development.

The agreement was signed in presence of Union Finance Minister Arun Jaitley and his Bangladeshi counterpart A.M.A Muhith.

The new Indian line of credit, will be used to fund 17 major projects in Bangladesh, which includes electricity, railroads,roads,shipping and ports.

Managing Director of the Export-Import Bank of India(Exim),David Rasquinha signed the deal, while Economic Relations Division Secretary,Kazi Shofiqul Azam signed on behalf of Bangladesh.

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