India offers $10-bn investment, $5-bn loan to Bangladesh

12 Apr 2017


India has offered to invest up to $10 billion in Bangladesh, in sectors including infrastructure and healthcare, and provide another $5 billion in loans, including $500 million in military assistance.

Prime Minister Sheikh Hasina who returned from a four-day visit to India, said the investments would come from both government and the private sector.

Hasina, who led a 280-member business delegation, including 40 senior government officials and ministers was addressing the media in Dhaka on Tuesday.

"The offers of investment and loans were given by the Indian government and private entrepreneurs during my visit to New Delhi," she told reporters.

"Both investments and credit will be used for the development of several sectors including power and energy, logistics, education, medical, infrastructures and rail, road and waterways."

Hasina said the military assistance would cover everything from training for military personnel, ensuring peace in border areas, joint patrols and drills in international sea areas and purchase of military equipment.

The military sector assistance bears a nominal interest of 1 per cent and has to be repaid over the next 20 years.

"I am satisfied at this visit and it has been fruitful. On the context of respect we are equal, it is a matter of satisfaction. Nothing is here for dissatisfaction. This tour totally is successful," said the prime minister.

"I did not go India for any demand, I went there for friendship, I got that," Sheikh Hasina.

Bangladesh PM honoured the Indian martyred soldiers during the 1971 liberation war while her Indian counterpart inaugurated a road named after Bangabandhu, the father of the nation and released a cover of a book on the unfinished life sketch of Bangabandhu.

The Bangladesh prime minister thinks that a new dimension of bilateral relationship has been opened intended for this tour.

The connectivity of the both countries have been built stronger and a new innovative challenge has been set up between Bangladesh and India.

India and Bangladesh signed 36 documents, including agreements and MoUs.

Sheikh Hasina said, she will not commit anything wrong for the country, as was done during the BNP rule, when an agreement was signed with China on defence.

Separately, the Indian High Commission in Bangladesh said the two countries have also signed an agreement to facilitate debt for the construction of facilities producing 1,320 megawatts of electricity in Bangladesh.

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