Business Desk :
Bangladesh and India have expressed optimism that the utilization rate of Lines of Credit (LoCs) extended to Bangladesh by India is set to increase significantly in the near future.
With the award of more than US$ 990.85 million worth of contracts under the LoCs during the past three years, and another US$ 325.58 million being finalized within the next few months, the two sides hope it will create new opportunities for shared development of the region and mutual benefits.
Bangladesh and India have noted considerable improvement in the speed of projects reaching execution or ending stage under the LoCs, reports UNB.
It has been made possible with the active cooperation of the project-implementing agencies of both sides and the extensive coordination efforts between the Economic Relations Division (ERD) and the High Commission.
The 19th Bangladesh-India LoC review meeting was held in Dhaka on October 27-28 to review the progress of 43 projects being taken up for implementation under GoI Lines of Credit (LoCs).
