Bangladesh

Sheikh Hasina's first bilateral visit

India announces $4.5 billion line of credit to Bangladesh

NEW DELHI: Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina held bilateral talks here today and inked 22 pacts in various key sectors, including a civil nuclear agreement and two memorandums of understanding (MoUs) on defence cooperation.India has extended a credit line of $4.5 billion for implementation of projects in Bangladesh "We are happy to announce a concessional line of credit of $4.5 billion for investment in priority sectors in Bangladesh," PM Modi said during a joint statement at Hyderabad House.The Prime Minister also announced $500 million credit line towards our eastern nation's military budget."India has always stood for the prosperity of Bangladesh, we are a long standing and trusted development partner of Bangladesh," PM Modi said while touching upon the various investments assured to the country in today's meet.He said India wanted to build cooperation in new areas with"especially in some high-technology sectors which would include working in the fields of electronics, IT, cyber security, space explorations and civil nuclear energy".The Prime Minister also said both sides agreed that peace and security will remain central engagement between the two neighbours."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.The two prime ministers jointly inaugurated via video link the new bus service between Kolkata and Dhaka via Khulna in Bangladesh. They flagged off the Maitree Express, which will run between Kolkata and Khulna, while also restoring the defunct Radhikapur–Khulna passenger train service, which is set to resume in July 2017 after a interval of nearly 70 years.On the issue of Teesta water sharing issue, PM Modi said he was hopeful of an "early and acceptable solution" with the Bangladesh government.This isin seven years.