India gives fourth instalment of $200m
India yesterday handed over a cheque of $25 million to Finance Minister AMA Muhith as the fourth instalment of the $200 million grant approved in 2012 by the Congress government.
This is the first instalment of the grant after Prime Minister Narendra Modi's government assumed power in India this year. Indian High Commissioner Pankaj Saran handed over the cheque at Muhith's official residence in Minto Road. With this tranche, India has completed disbursement of $175 million assistance to Bangladesh.
India approved a $1 billion line of credit to Bangladesh in 2011. In 2012, India converted $200 million of the amount into grant.
Saran also briefed Muhith on the status of the 15 ongoing projects under the remaining $800 million Indian line of credit, which are in different stages of implementation, the Indian High Commission in Dhaka said in a statement.
Saran thanked Muhith for the country's positive response on the establishment of a special economic zone for Indian companies, the statement said. Alongside China and Japan, the government has decided to allocate an economic zone to India as well, according to a finance ministry official.
Muhith and Saran also discussed in detail how the infrastructure can be developed.
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