PM Modi announces $4.5 billion line of credit to Bangladesh

LIVE: Bangladesh PM Sheikh Hasina gets ceremonial welcome at Rashtrapati Bhawan in Delhi

Indian Prime Minister Narendra Modi shakes hand with his Bangladeshi counterpart Sheikh Hasina at the Presidential Palace in New Delhi, India, Saturday, April 8, 2017.

The 22 pacts were signed on a wide range of bilateral partnership between the two countries, which includes energy, defence cooperation and infrastructure.

Earlier, Modi announced India's commitment to extend $500 million credit for the defence procurement of Bangladesh.

Prime Minister Narendra Modi with Bangladesh Prime Minister Sheikh Hasina and West Bengal chief minister Mamata Banerjee.

Kolkata: Despite lack of development in the crucial water-sharing Teesta agreement between India and Bangladesh, there's one area in which both the nations made considerable progress - rail and road connectivity.

At the joint press interaction, Modi said while the two sides successfully concluded the land-boundary agreement, the much-awaited Teesta water-sharing agreement had "attracted the greatest attention".

They flagged off the Maitree Express, which will run between Kolkata and Khulna, while also restoring the defunct Radhikapur-Khulna passenger train service, which is set to resume in July 2017 after an interval of almost 70 years. Banerjee's dissenting opinion on the Teesta pact has been the reason that there has been no agreement between the two countries. This brings our resource allocation for Bangladesh to more than eight billion dollars over the past six years.

Earlier, in the day, the Bangladesh Prime Minster was accorded ceremonial reception at the forecourts of Rashtrapati Bhawan this morning. Already BNP has criticised her Indo-Bangladesh policy and had wanted that Bangladesh should go for arms deal with China instead of inking defence deal with India.

India's third offer for $4.5 billion came after Chinese premier Xi Jinping's visit to Bangladesh in October 2016, when the Chinese president extended a line of credit of $24 billion.

At an event to honour martyrs of the 1971 Bangladesh liberation war, he said there were three main ideologies in South Asia at present.

On this, Prime Minister Modi further said, "I am very happy that the Chief Minister of West Bengal is my guest today". Later, while joining Sheikh Hasina to felicitate families of seven Indian soldiers martyred during the 1971 Bangladesh liberation war, Modi hit out at Pakistan, without naming it, saying India's doors were open for cooperation, "but for that country.which breeds, inspires and encourages terrorism, this thought is a roadblock to peace within the region and the world".

India will also finance a diesel oil pipeline from Numaligarh to Parbatipur and Indian companies will enter a long-term deal with Bangladesh for the supply of high-speed diesel. Asked about the issue of Bangladeshi infiltration, Jaishankar said that a liberalised legal visa regime would help to check illegal entry.

The two leaders jointly inaugurated via video link a new bus service to link Kolkata and Dhaka via Khulna in Bangladesh.

River Torsa rises in Tibet and flows through Bhutan before entering North Bengal, while Sankosh rises in northern Bhutan and empties into the Brahmaputra after flowing across the Bengal-Assam border, and the Raidak, also a tributary of the Brahmaputra, rises in Bhutan before emerging onto the plains of Jalpaiguri.

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