The $4.5 billion credit line is separate from a $ 500 million line of credit for defence hardware purchases also announced during the ongoing visit. “Excellency Sheikh Hasina and I held productive and comprehensive discussions on the full range of our partnership. Describing India as a “long-standing and trusted development partner of Bangladesh,” Modi announced a new concessional Line of Credit of $ 4.5 billion for the implementation of projects in Bangladesh. “This brings our resource allocation for Bangladesh to more than $8 billion over the past six years,” Modi said. On the contentious question of the sharing of the Teesta river waters between India and Bangladesh Modi said: “I assure you and the people of Bangladesh of our commitment and continuing efforts.

Source: Mint April 08, 2017 10:30 UTC