Staff Reporter :
India has offered another $1.0 billion Line of Credit (LoC) to Bangladesh as part of the ongoing economic relations between the two neighbouring countries.
“We will utilise the loan in education and health sectors,” Finance Minister AMA Muhith told the reporters after a meeting with visiting Secretary of Indian External Affairs Ministry (Multilateral and Economic Relations) Sujata Mehta at his Secretariat office on Monday morning.
He said, India has wanted to know the sectors in which Bangladesh is keen to spend the loan.
Mehta arrived in Dhaka on Sunday on a three-day visit to review and discuss the ongoing India-Bangladesh development partnership and economic cooperation.
She is accompanied by Joint Secretary (Development Partnership Administration) Alok Kumar Sinha and Joint Secretary (Bangladesh and Myanmar) Sripriya Ranganathan. Dhaka and New Delhi signed the $1.0 billion loan agreement to finance infrastructure development in Bangladesh two years ago. The amount is the biggest credit package by India to any nation.
Officials of the Economic Relations Division (ERD) said that the credit amount was already channelled for different infrastructure projects, especially for Railway sector.
