Arun Jaitley

Bangladesh-India Relations Followed Model: Arun Jaitley

Bangladesh

Indian Finance Minister Arun Jaitley, visiting Dhaka, said that India-Bangladesh relations have reached the highest level today, which has become a model to be followed for other countries. The roots of Bangladesh-India, one of the challenges of both, and the challenges of the two countries is also one. The relationship between the two countries has reached such a high level today that India is going to give loans for the third time today.

Arun Jaitley said this at a program titled ‘India’s macro economic initiative’ organized by the Policy Research Institute of Bangladesh and Indian High Commission in Dhaka, Sonargaon. Finance Minister Abul Maal Abdul Muhit was also present in the program.

Earlier in the morning, after the signing of a bilateral meeting with Bangladesh Finance Minister Abul Maal Abdul Muhith and a half-billion dollar loan agreement signed in the Finance Ministry, Arun Jaitley told reporters that he was ‘fascinated’ by the rapid progress of Bangladesh in achieving economic growth with inclusive social development. India is ‘committed’ to be part of this development partner of Bangladesh.

During the meeting with Finance Minister Muhith, he said that the issues related to bilateral relations, especially economic cooperation, have been discussed in the meeting, he said that in recent years there has been significant progress in this cooperation.

Economic Relations Division (ERD) Secretary Kazi Shafiqul Azam and Managing Director of EXIM Bank of India signed the agreement on their behalf. For the third time in the last seven years, India has given the largest amount of credit, which is known as the Third Line of Credit (LoC).

Earlier, the ERD secretary said that this money would be spent for implementing 17 projects, including power, information technology and infrastructure. Of these, fifteen projects have been finalized. The rest of the draft is being made.

During the visit of Prime Minister Sheikh Hasina to India in April, an Indian credit line of $ 4.5 billion was announced for Bangladesh. In the last six years, the total credit line of India given to Bangladesh will stand at 7.5 billion crores of dollars. In recognition of the third dollar credit line agreement, Bangladesh will achieve the capability to implement some of the priority infrastructure projects.

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