India, Bangladesh signed 2 billion US dollar Line of Credit

On 9 March 2016 India and Bangladesh signed a 2 billion US dollar Line of Credit (LOC) to implement socio-economic development projects in Bangladesh and strengthen bilateral relations. 
•    The 2 billion US dollar LOC is the biggest credit line India has so far extended to any country.
•    The LOC agreement was signed in Dhaka, Bangladesh by Yaduvendra Mathur, Chairman & Managing Director, EXIM Bank, and Mohammad Mejbahuddin, Senior Secretary, Economic Relations Division, Ministry of Finance.
•    India first extended a LOC of 1 billion US dollars to Bangladesh in 2010.
•    The Second Line of Credit will fund social and infrastructure development projects in the power, railways, road, transport, information and communication technology, shipping, health and technical education sectors.
•    Projects covered under the first LOC of 862 million US dollars include Procurement of buses, locomotives, passenger coaches and other rolling stock, laboratory equipment.
•    It also included Construction of 2nd Bhairab and 2nd Titas Bridge, Khulna-Mongla port rail line, 3rd and 4th Dual Gauge track between Dhaka-Tongi section and doubling of dual gauge track between Tongi-Joydebpur, rehabilitation of the Kulaura-Shahbajpur section of Bangladesh Railway.