PM Modi announces credit of $4.5 billion to Bangladesh

PM Modi made these announcements while issuing the joint statement with Bangladesh PM Sheikh Hasina.

PM Modi with Bangladesh PM Sheikh Hasina during the joint press conference. Photo: Ministry of External Affairs

Prime Minister Narendra Modi on Saturday announced $500 million (around Rs 3,200 crore) line of credit to Bangladesh for defence. In addition, he further announced that a new concessional line of credit of $4.5 billion for implementation of projects in Bangladesh.

PM Modi made these announcements while issuing the joint statement with Bangladesh PM Sheikh Hasina who arrived in India on Friday.

“We are happy to announce new concessional line of credit of $4.5 billion for implementation of projects in priority sectors in Bangladesh,” PM Modi said. He further said India wants to build co-operation in the new area, especially in high technology area. “We held productive talks on wide-ranging issues including on civil nuclear cooperation,” he added.