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Cabinet approves MoU on Third Line of Credit of US $ 4.5 billion to Bangladesh for implementation of developmental projects

Delhi 

Cabinet approves MoU on Third Line of Credit of US $ 4.5 billion to for implementation of developmental projects

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to the Memorandum of Understanding (MoU) on Third Line of Credit (LoC) of US $ 4.5 billion to for implementation of developmental projects.

The MoU was signed during the visit of the Prime Minister of to India in April 2017.

The MoU provides for deepening the strategic partnership, development of infrastructure in Bangladesh, improving connectivity between India and Bangladesh, thus enhancing accessibility to our North Eastern Region, as well as creating new business opportunities for Indian companies in

The concessional financing system to would strengthen bilateral relations and development cooperation between India and

The MoU specifies a list of projects which will be undertaken under the concessional financing system. This provides an opportunity to ensure that projects of Indias interest are undertaken under this LoC.

Some of the projects will ensure better and faster connectivity to the North Eastern region of India with the mainland as well as to the outside world. They will also ensure Indias security and will open up business for Indian companies.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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