The nation has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets
India enhances first line of credit to Bangladesh by $62 million
India has increased its first line of credit extended to Bangladesh in 2010 by additional $62 million.
Published : 5 August 2015, 09:47 AM
Updated : 5 August 2015, 09:53 AM
Indian High Commission in Dhaka said this was to meet the cost escalation of the Khulna-Mongla and the Kalaura-Shabazpur railway line projects.
It said EXIM Bank of India and Bangladesh’s finance ministry had concluded all formalities required for this additional credit.
The 2010 line of credit was initially $1 billion for projects related to railways, communications, infrastructure and other sectors.
Out of that, $200 million was later converted into grant and now the credit line stands at $862 million.
Meanwhile, Indian Prime Minister Narendra Modi during his recent Dhaka visit announced $2 billion more credits to Bangladesh.
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