India to give $4.5b to Bangladesh for priority projects

India today announced to provide an assistance of US$ 4.5 billion for implementation of top priority projects in Bangladesh.

Indian Prime Minister Narendra Modi made the announcement after the official talks with Bangladesh counterpart Sheikh Hasina at Hyderabad House here this afternoon.

Modi said being a long-standing and trusted development partner, India always stood for the prosperity of Bangladesh and its people.

India and Bangladesh, he said, are also determined that the fruits of their cooperation must benefit our people.

"(In this context) I am happy to announce a new concessional Line of Credit of 4.5 billion dollars for the implementation of projects in priority sectors for Bangladesh ...this brings our resource allocation for Bangladesh to more than 8 billion dollars over the past six years," he said.

The Indian premier also declared to give assistance of $500 million to support Bangladesh`s defence-related procurement.

"I am also happy to announce a Line of Credit of US dollars 500 million to support Bangladesh`s defence related procurement . . . in implementing this line of credit, we will be guided by Bangladesh`s needs and priorities," Modi said.

Source : BSS