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Prime Minister Narendra Modi announces $ 4.5 Billion credit line to Bangladesh; Vows early Solution in Teesta issue

April 8, 2017

modi-hasina-story_647_040717014301New Delhi: Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina met in New Delhi on Saturday and held talks on various matters of mutual benefits including civil nuclear co-operation.

The senior officials from both the countries exchanged 22 signed pacts in various sectors. The Indian Prime Minister also announced a new concessional credit line of USD 4.5 billion for implementation of various projects in the neighboring country.

“We are happy to announce a concessional line of credit of $4.5 billion for investment in priority sectors in Bangladesh,” PM Modi said in a joint statement at Hyderabad House.

Narendra Modi also assured Bangladesh of an “early solution” to the emotive Teesta water sharing issue, a pact on which has remained elusive for nearly seven years.

Stressing that the deal was ‘important’ for India-Bangladesh ties, Modi assured India’s commitment to the issue.

He said an “early solution can and will be found” to the Teesta water sharing issue.

Modi_Hasina-PTIThe Teesta deal was set to be signed during the then Prime Minister Manmohan Singh’s visit to Bangladesh in September 2011 but was postponed at the last minute due to objections by West Bengal Chief Minister Mamata Banerjee.

The Prime Ministers from both the countries also acknowledged that energy security is an important dimension for the mutual development and partnership and that it will continue to grow.

“While our partnership brings prosperity to our people, it also works to protect them from forces of radicalisation and extremism. Their spread poses a grave threat, not just to India and Bangladesh but to the entire region. Prime Minister Sheikh Hasina’s firm resolve in dealing with terrorism and her government’s ‘zero-tolerance’ policy towards terrorism is an inspiration for all of us,” PM Modi said.

Notably, this is the first visit of Sheikh Hasina in seven years to India and during her four-day visit, issues, like combating terrorism, containing radicalism and enhancing security cooperation, would be discussed between the two countries.

TimesNow

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