Sheikh Hasina's India visit: PM Modi offers $5-billion credit to Bangladesh

Amount includes $500 million earmarked for purchasing defence equipment from India

India on Saturday announced an additional $4.5-billion concessional line of credit for implementation of projects in Bangladesh, and another $500 million for Dhaka to procure defence equipment from New Delhi.

Apart from the funds and 22 agreements signed between the two countries, some more agreements would be signed on Monday, by the Indian private sector. This would result in investment of over $9 billion in Bangladesh, a joint statement issued by the two nations said.

But more than the funds, Prime Minister Narendra Modi lauded his Bangladesh counterpart Sheikh Hasina, on a visit to India, for her zero-tolerance towards terrorism.