India and Bangladesh on Saturday, April 8, signed several key deals that are expected to further their bilateral ties and boost their respective economies. The deals were signed in a meeting between Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina â who is on a four-day visit to India.
The two sides are expected to sign at least 25 pacts in various key sectors like civil nuclear cooperation and defence over the course of Hasina’s current visit to India. Here are seven decisions reached at the meeting between the two prime ministers â which also had its share of lighter moments â in New Delhi on Saturday:
1. Bangladesh will get a new line of credit of $4.5 billion at a concessional rate for purchases in priority sectors. This brings India’s resource allocation to over $8 billion in 6 years.
2. Though neither of the parties reached a conclusion in regard to the crucial Teesta water-sharing deal, the parties are determined to find a solution as early as possible.
3. India has promised to partner Bangladesh in fulfilling the goal of power for all by 2021.
4. India will also finance diesel oil pipeline from Numaligarh to Parbatipur. Soon Indian companies will be entering a long-term agreement for the supply of high speed diesel.
5. Stressing on the needs of connectivity between India and Bangladesh, PM Modi appreciated the restoration of bus and train links between Kolkata and Khulna, and Radhikapur and Birol.
6. Discussions about an early implementation of Bangladesh Bhutan, India, Nepal (BBIN) Motor Vehicles Agreement for a new era of sub-regional integration were also taken up.
7. Modi also announced agreement on armed forces’ cooperation and line of credit of $500 million for Bangladesh defence procurement.