Mukherjee in Dhaka to Sign $1 Billion Deal
Saturday, 07 August 2010

Indian finance minister Pranab Mukherjee will arrive in the city on Saturday afternoon for a four-hour trip to witness the signing of a loan agreement with Bangladesh worth US $1 billion.

Prime minister Sheikh Hasina will meet him at her office in the evening before his departure at around 8.00 pm, officials say.

Mukherjee, the former external affairs minister of India, will also hold talks with his Bangladesh counterpart Abul Maal Abdul Muhith and foreign minister Dipu Moni at the state guest house Jamuna.

Bangladesh's external resources division secretary and the chairman and managing director of Indian Exim bank will sign the US $1 billion deal in presence of the three ministers.

Foreign ministry sources say, the US $ 1 billion loan line of credit will be utilised for implementing 14 development projects that include one for directly connecting India's North East with Bangladesh by rail network.

The other projects include construction of two railway bridges in Bangladesh, procurement of railway locomotives, carriages and container wagon, purchase of buses for the BRTC, and buying of dredgers for maintaining navigability of rivers.

The Indian government during Hasina's Delhi visit in January agreed to provide the US $1 billion line of credit for supporting infrastructure projects mainly to increase the connectivity between India and Bangladesh.


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