Bangladesh signs $4.5 bn LoC pact with India for infra development
The Dollar Business Bureau Bangladesh on Wednesday signed an agreement for the third line of credit (LoC) with India for around $4.5 billion for its social and infrastructure sector development. The pact was inked by David Rasquinha, Managing Director, Export-Import Bank of India (Exim) on behalf of India while Kazi Shofiqul Azam, Economic Relations Division Secretary signed for Bangladesh, in the presence of Arun Jaitley, Finance Minister of India and his Bangladeshi counterpart A M Abdul Muhith in Dhaka. The new LoC will be used by Bangladesh for funding 17 key projects in the country in several sectors including roads, ports, shipping railroads and electricity. Like earlier LoC pacts, the new loan is at an interest rate of ...
India gives 100 MW power supply to Bangladesh, gets 10 GBPS internet
The Dollar Business Bureau Bangladesh has sought additional 100 MW from Tripura power project Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina on Wednesday inaugurated the 100 MW power supply from the ONGC Tripura Power Company (OTPC) in Tripura to Bangladesh. India earlier supplied 500 MW power to Dhaka through West Bengal, but with the commencement of additional 100 MW, the total is likely to escalate up to 600 MW. However, Bangladesh has sought another 100 MW from the Tripura power project. Bangladesh, in turn, will supply 10 GBPS internet bandwidth to India from Thursday onwards. The high-speed internet bandwidth will ensure fast and reliable internet connectivity in Tripura as well as other North Eastern states. The two ...
