Dhaka – Indian Finance Minister Arun Jaitley arrived in Dhaka on Tuesday to discuss bilateral economic cooperation between Bangladesh and India.
The two next-door neighbours are likely to ink an agreement for 4.5 billion dollar Indian line of credit for Bangladesh, according to officials at the Finance Ministry.
Jaitley and his Bangladeshi counterpart Abul Maal Abdul Muhith will witness signing of the agreements at the Finance Ministry, according to a press statement.
Bangladesh’s Economic Relations Division Secretary and Managing Director of Indian EXIM Bank will sign the agreement on behalf of their respective sides in the city.
Indian Prime Minister Narendra Modi announced the line of credit for Bangladesh during Prime Minister Sheikh Hasina’s visit to New Delhi in April this year.
This will bring the total quantum of credit lines extended by India to Bangladesh over the last six years to $8 billion.
Bangladesh will develop its key infrastructure projects with the credit from India.
A Joint Interpretive Notes on the agreement between the two countries will also be signed to promote and protect of investments.
Jaitley, during his Bangladesh visit, is also expected to attend an event titled “Macroeconomic Initiatives of the Government of India: Financial Inclusion Demonetization and Cashless Economy” at Sonargaon Hotel in the city.
Policy Research Institute of Bangladesh and the High Commission of India will jointly organize the programme.