$5 billion credit to Bangladesh for development and defence
FORGING TIES: The two countries also agreed to work closely on peace and security
NEW DELHI: India and Bangladesh on Saturday signed 22 pacts to boost bilateral ties, including in defence and civil nuclear energy, with New Delhi offering a $4.5 billion line of credit to Dhaka to help it implement development works and a $500 million for military procurements.
The announcements were made after Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina, on a four-day state visit, held bilateral talks here.
“We are happy to announce a concessional line of credit of $4.5 billion for investment in priority sectors in Bangladesh,” Modi said at a joint address with Hasina at Hyderabad House.
“India has always stood for the prosperity of Bangladesh. We are a long-standing and trusted development partner of Bangladesh,” he said, speaking at length about the Indian investments assured to Bangladesh.
He said India wanted to build cooperation in new areas with Bangladesh “especially in some hightechnology sectors which would include working in the fields of electronics, information technology, cyber security, space explorations and civil nuclear energy”.
The two countries also agreed to work closely on peace and security and build cooperation between their armed forces.
“While our partnership brings prosperity to our people, it also works to protect them from forces of radicalisation and extremism. Their spread poses a grave threat, not just to India and Bangladesh but to the entire region,” Modi said.
He promised India would give an additional credit of $500 million to Bangladesh for military supplies and it would be driven by Dhaka’s needs.
She said her government would take all necessary action to ensure peace and security along the India-Bangladesh border and asserted there would be zero tolerance against terror.
At a separate event to hail Indian soldiers who fought the 1971 war that led to the birth of Bangladesh, Hasina said her country was indebted to India for its role in the birth of Bangladesh.
The two leaders jointly inaugurated via video link a new bus service to link Kolkata and Dhaka via Khulna in Bangladesh.
They flagged off the Maitree Express, which will run between Kolkata and Khulna, while restoring the defunct Radhikapur-Khulna passenger train service, which will resume in July after nearly 70 years.
On the Teesta water sharing issue pending between the two countries, Modi said he was hopeful of an “early and acceptable solution” with Bangladesh.