UNB, Dhaka :
India has agreed to extend its first line of credit for the development of the railways sector in Bangladesh.
Of the US$ 1 billion line of credit, which was agreed between the countries in January 2010, US$ 200 has been fully disbursed and converted to grant, whereas both the countries have agreed to enhance the remaining credit line amount of US$ 800 million to US$ 862 million, said a release issued by Indian High Commission in Dhaka on Wednesday.
India has extended a line of credit of US$ 1 billion to the government of Bangladesh in January 2010 for a range of projects in the railways, communications, infrastructure and other sectors.
This was done to cater for increase in expenditure on the Khulna-Mongla and Kalaura-Shabazpur railway line projects.
EXIM Bank of India and the Economic Relations Division (ERD) of Bangladesh have now concluded all necessary formalities and signed the ‘Second Amendatory Agreement’ raising the amount of the first credit line from US$ 800 million to US$ 862 million.
India has agreed to extend its first line of credit for the development of the railways sector in Bangladesh.
Of the US$ 1 billion line of credit, which was agreed between the countries in January 2010, US$ 200 has been fully disbursed and converted to grant, whereas both the countries have agreed to enhance the remaining credit line amount of US$ 800 million to US$ 862 million, said a release issued by Indian High Commission in Dhaka on Wednesday.
India has extended a line of credit of US$ 1 billion to the government of Bangladesh in January 2010 for a range of projects in the railways, communications, infrastructure and other sectors.
This was done to cater for increase in expenditure on the Khulna-Mongla and Kalaura-Shabazpur railway line projects.
EXIM Bank of India and the Economic Relations Division (ERD) of Bangladesh have now concluded all necessary formalities and signed the ‘Second Amendatory Agreement’ raising the amount of the first credit line from US$ 800 million to US$ 862 million.
