India offers $5 billion credit line to Bangladesh for projects, defense

Indian Prime Minister Narendra Modi announced an additional $500 million in credit for Bangladesh to buy military equipment from India during the visit to New Delhi by Bangladeshi Prime Minister Sheikh Hasina.

In an oblique reference to Pakistan, a joint statement issued after his meeting with Bangladesh Prime Minister Sheikh Hasina said the fight against terrorism should also identify, hold accountable and take strong measures against States and entities which encourage, support and finance terrorism and falsely extol their virtues.

The areas, in which the two nations will be co-operating each other, include electronics, information technology, cyber security, space exploration and civil nuclear energy, according to the press statement. Admitting that the pact was "important" for India-Bangladesh ties, Modi assured India's commitment to the issue.

State-run Bangladesh Sangbad Sangstha news agency reported that two premiers, she said, discussed the issues of water resources management including sharing of water of common rivers like Teesta, the Padma-Ganges Barrage Project and basin-wise management of the trans-boundary streams. He said, spread of radicalization and extremism poses grave threat to India, Bangladesh and entire region.

In the last six year, India has extended lines of credit to Bangladesh during visits from the country's prime ministers three times - making this credit the biggest soft loan that New Delhi has proposed to any foreign country in this period.

The Bangladesh Prime Minister emphasized that the main aim of the two nations is to develop the living conditions of the people of South Asia. The Indian government had committed to the addition of another 500 MW under an existing inter-connection.

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Sources close to the All India Trinamool Congress (AITC) have said that the alternate plan is framed in a way that it will benefit both countries.

7- PM emphasised on the significance of the connectivity and lauds restoration of bus and train links between Kolkata-Khulna, Radhikapur-Birol. "And, steps are being taken to put into operation the coastal shipping agreement".

The Indian Prime Minister also called for business and industry of both the countries to work towards diversifying bilateral commercial engagements.

Special Commissioner of Police and Chief Spokesperson of Delhi Police Dependra Pathak said they came to know about it when the Prime Minister left his official residence at 7 Lok KalyanMarg for the airport.

"To mark the Golden Jubilee Year of Bangladesh's independence in 2021, we have agreed to jointly produce a documentary film on the Liberation War of Bangladesh", he said.

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