INDIA has imposed new conditions, including obligatory approval for procurement of goods and services for the implementation of projects in Bangladesh utilising the proposed $4.5 billion Indian Line of Credit (LoC). Officials said that the Ministries and Divisions would need to seek approval from the Indian government for each of the project components separately as stated in the draft loan agreement forwarded by New Delhi to Dhaka in last August. In April, India offered Bangladesh $4.5 billion loan known as the Third Line of Credit during the visit of Prime Minister Sheikh Hasina to Delhi. Previously, India extended loans of $1 billion in 2010 and $2 billion in 2016 known as the first and second lines of credit respectively.
Bangladesh is only allowed to use proposed loan on projects backed by India. Both Dhaka and Delhi have committed to finalise the terms and conditions of the third line of credit by coming October to start the implementation of 15 projects identified already. ERD officials hinted that two more projects might be included. Those include upgrading Benapole-Jessore-Narail-Bhatiapara-Bhanga Road (135km), Ramgarh-Baruerhat Road (35km) and Comilla (Moinamati)-Brahmanbaria-Sharail Road into 4-lane. Mentionable, most of these roads would extensively be used by India for opening corridors with its North-eastern states — Seven Sisters. Besides, supply of equipment for establishment of the Mollahat 100MW Solar PV Power Plant, supply of machinery for solid waste management in Dhaka South City Corporation area and installation of one lakh LED street lights in Dhaka, Chittagong and Rajshahi are among the other identified projects.
All these stern conditions just indicate the failure of our government at the international stage. ERD officials said that the Ministries and Divisions found it difficult to implement 15 projects with the loan of $1 billion under the first line of credit in the past six years because of tough conditions attached by Delhi.
In more simple words, Delhi is determined to get all fruits out of these projects financed under the LoCs but shifting all the burdens upon Bangladesh. Delhi will take back all the money, including interest forcing Bangladesh to go by the ToRs dictated by Delhi bosses.
Corruption has occurred in every sector and our Government is pretty helpless to prevent it. This is what happens when a government stays in power for too long forcefully. It becomes ridiculously helpless against international pressure, particularly from the South Bloc of Indian Capital Delhi.
