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Existing relations between the two countries are at the highest level: Finance Minister

Newsg reporter 4 October , 2017, 17:22:53

  • Collected from internet

Dhaka: Finance Minister Abul Maal Abdul Muhith has said that existing relations between India and Bangladesh are in the highest level.

He told reporters after a meeting with the Finance Minister of India on Wednesday at 11pm at the Secretariat.

The Finance Minister said, "India is a close friend of Bangladesh. Existing relations between the two countries are at the highest level. This loan exposes India's good relations with Bangladesh.

Abul Maal Abdul Muhith said, "One billion dollars loan of the first phase of credit line from India has been fully implemented. But second-stage two billion dollars loan implementation was not fully possible. But it is in progress. This third phase loan will be used properly. Various projects have been adopted for this. Basically, this loan will be spent in social security, education and health sectors.

He said, "The loan interest is very low and we have to pay 20 years."

The Finance Minister said, "Indian Finance Minister is fascinated by the economic development of Bangladesh. He said, the economic progress of Bangladesh could be a model for another country.

He said, "The trade relations between the two countries are very excellent."

The Indian finance minister reached the Secretariat at around 10am on Wednesday. He was welcomed by the Finance Minister, State Minister for Finance MA Mannan, Senior Secretary of the financial institution, Yunusur Rahman, NBR Chairman. Najibur Rahman, Acting Secretary of Finance, Muslim Chowdhury and other senior officials. Later, the meeting of Finance Minister of the two countries started in 10pm.

After the meeting, the credit line agreement signed between the two countries for $ 45 billion. The agreement was signed by Bangladesh's Economic Relations Division (ERD) secretary and Exim Bank Managing Director of India.

It may be mentioned that during the visit of Prime Minister Sheikh Hasina to India in April, an Indian credit line agreement worth $ 450 million was announced for Bangladesh. If the agreement is signed, the amount of India's total credit line will amount to $ 2.5 billion in Bangladesh. Under the Third Dollar Credit Line Agreement, Bangladesh will be able to implement some of the priority-based infrastructure projects. A joint interactive note of agreement between the two countries is also expected to be signed and extended for investment.

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