India gives nod to 14 projects

India has approved 14 of the 16 projects forwarded by Bangladesh for implementation under the second line of credit worth $2 billion, said officials of the Economic Relations Division.

The Executive Committee of the National Economic Council has approved the detailed plans of all 14 projects, said Md Zahidul Haque, additional secretary of the ERD.

“Now we are thinking how to implement the projects rapidly,” he said, adding that the appointment of consultants and floating of tender are on way for a number of projects already.

Harsh Vardhan Shringla, high commissioner of India in Dhaka, met Mashiur Rahman, the prime minister's economic affairs adviser, on Wednesday and discussed the swift implementation of the projects, Haque said. 

Indian Prime Minister Narendra Modi signed the agreement for the second line of credit during his visit to Dhaka in June 2015.

According to the agreement, Bangladesh has to adopt a transparent procedure based on competitive bidding for awarding the contracts to Indian sellers.

Bangladesh may conduct bidding in line with the prevailing procurement rules and regulations of the country to ensure that the winning bidder is selected in a fair and transparent manner, it said.

To date, India has disbursed $600 million, including a $200 million grant, under the first line of credit worth $1 billion.

Bangladesh has completed 12 out of the 15 projects under the first line of credit; the rest three are under implementation.