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Media Statement by the Minister of Finance and Corporate Affairs of India after meeting with Finance Minister of Bangladesh  

Media Statement by the Minister of Finance and Corporate Affairs of India after meeting with Finance Minister of Bangladesh

  • I am very happy to be here on my first visit to Bangladesh at the invitation of the Hon’ble Minister of Finance. I thank him for his warm welcome and for the gracious hospitality extended to me and my delegation.
  • The Minister and I reviewed our bilateral relationship, in particular, our economic cooperation, which has recorded significant progress in recent years.
  • I am deeply impressed by the rapid progress made by Bangladesh in achieving economic growth along with inclusive social development.
  • India continues to attach the highest importance to its relations with Bangladesh, which has seen steady growth during recent times. A strong, stable and prosperous Bangladesh is in India’s interest and we are committed to working with Bangladesh to deepen our mutual engagement.
  • India-Bangladesh relations are at their best today and stand out as a model for other countries to emulate. The recent visit of Prime Minister Sheikh Hasina to India was a landmark event that resulted in the signing of a record 36 agreements. Several investment proposals by Indian public and private sector companies in Bangladesh are in the pipeline.
  • The Minister and I witnessed the signing of the Loan Agreement today to operationalize the 3rd Line of Credit of US$ 4.5 billion announced during the recent visit of the Prime Minister of Bangladesh to India.
  • India is fully committed to partner Bangladesh in its economic development. As a long-standing development partner of Bangladesh, we have extended three Lines of Credit worth US Dollars 8 billion to Bangladesh in recent years. This is the largest quantum of credit India has extended to any other country by far and comes with a highly concessional rate of interest.

The signing of the 3rd LOC agreement will enable the im

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