India approves $750 million infrastructure loan for Bangladesh

[SpArK]

India approves $750 million infrastructure loan for Bangladesh​

India has approved a $750 million loan for Bangladesh to develop trade infrastructure ahead of a visit to Dhaka by Prime Minister Manmohan Singh this week, a senior Bangladesh official said on Sunday.

The money is part of a $1 billion credit line India proposed for its eastern neighbour to develop ports and related infrastructure, said Musharraf Hossain Bhuiyan, secretary of the economic relations division of the finance ministry.

"The Indian government has already asked the relevant ministry to disburse the credit for implementing nearly two dozen infrastructure projects under the $1 billion credit agreement signed in August last year," Bhuiyan said.

"The most important from our point of view of course are the two agreements on interim (water) sharing arrangements for the Teesta and Feni rivers," Foreign Minister Dipu Moni told a news conference.

She said Bangladesh decided to "provide connectivity for the countries of the region, particularly in view of obvious geographical exigencies, to Nepal, Bhutan, and India."

"We are in the process of developing those linkages that will facilitate connectivity, including by rail, waterways, road and air."

Singh and Bangladesh Prime Minister Sheikh Hasina are expected to sign agreements to swap disputed territory dating back to the 1947 partition of British India, as well as pacts on water rights from major shared rivers, during the Sept. 6-7 trip, the first by an Indian prime minister to Bangladesh in 12 years.

Singh's visit is widely seen as a demonstration of India's willingness to have closer understanding and cooperation with the small neighbour, and remove decades of mistrust.

India helped its neighbour secede from Pakistan in a bloody 1971 war, but relations were frequently fractious after that.

New Delhi also wants Dhaka to allow better transit links across Bangladesh to land-locked north-eastern Indian states.

Bangladesh has offered India the use of the Chittagong and Mongla ports to improve bilateral and regional trade.


Foreign Minister Dipu Moni said: "We will also be concluding a Protocol to the Land Boundary Agreement, which details the remaining issues of demarcation of the un-demarcated areas, territories in adverse possession and exchange of enclaves."

The minister said Dhaka was also expecting to sign a deal during PM Singh's visit to buy 250 megawatts of electricity from India.


India approves $750 million infrastructure loan for Bangladesh - India - DNA

 

[T90TankGuy]

good news we need closer ties with BD

 

[Zabaniyah]

Question is: Will the money be used for the intended purposes?

 

[DelhiDareDevil]

Question is: Will the money be used for the intended purposes?

Depends how ur politicians use it.

 

[Avatar]

Question is: Will the money be used for the intended purposes?

That's entirely Bangladesh's lookout.

 

[Zabaniyah]

Depends how ur politicians use it.

That's what I meant. I hope it doesn't wind up in the pockets of MPs and ministers

 

[brational]

That's what I meant. I hope it doesn't wind up in the pockets of MPs and ministers

Zabanya, This is where the best can be seen as the worst (As an average Bangladeshi influenced by vested interest groups). Let us understand that the credit line, if utilised properly can create atleat 5000 jobs (Direct/Indirect in Indian terms). Primarily Bangladesh will gain from it. Yes, if India gets the transit rights, the job creation will be much more higher for your people. We will gain only in tems of saving some transportation cost by using your infra..

 

[Tiki Tam Tam]

Question is: Will the money be used for the intended purposes?

That's what I meant. I hope it doesn't wind up in the pockets of MPs and ministers

That is what causes all the issues of animosity.

If it is not correctly used and there is no visible progress, then the donor is blamed.

Part of life?

India helped BD in 1971.

There are posts that state that it would have been done without Indian help!

As the US chaps say - Do it and be damned and don't do it and you are still damned!

That is life!

One has to grin and bear it!

Hakuna matata, the Swahili phrase that is literally translated as "There are no worries" sums it up.

 

[Zabaniyah]

Zabanya, This is where the best can be seen as the worst (As an average Bangladeshi influenced by vested interest groups). Let us understand that the credit line, if utilised properly can create atleat 5000 jobs (Direct/Indirect in Indian terms). Primarily Bangladesh will gain from it. Yes, if India gets the transit rights, the job creation will be much more higher for your people. We will gain only in tems of saving some transportation cost by using your infra..

This article doesn't mention anything about the transit. India has already provided a loan for that. I have said before that the transit is economically feasible for Bangladesh, given that political football in Bangladesh doesn't impede the rewards. But however, fully implementing it will take some time. Probably around 6-7 years.

Long broken roads still aren't repaired. Many Bangladeshis are complaining about the current communications minister. I don't know exactly how the funds will be used under such circumstances. Project schedules often fell behind schedule. Although, many of the current bridge projects are managed by foreign private firms.

 

[brational]

Zabanya, This is where the best can be seen as the worst (As an average Bangladeshi influenced by vested interest groups). Let us understand that the credit line, if utilised properly can create atleat 5000 jobs (Direct/Indirect in Indian terms). Primarily Bangladesh will gain from it. Yes, if India gets the transit rights, the job creation will be much more higher for your people. We will gain only in tems of saving some transportation cost by using your infra..

Just read the IF above.. There are 2 statements.. 1. Utilization if funds -> Job creation.
2. If India gets a Transit -> higher employments..

Chill man..

 

[Zabaniyah]

Just read the IF above.. There are 2 statements.. 1. Utilization if funds -> Job creation.
2. If India gets a Transit -> higher employments..

Chill man..

India will...

 

[Dalai Lama]

So... Is this a bad thing?

 

[Jihad]

So... Is this a bad thing?

Don't know, perhaps it is.
Knowing that hundreds of millions of Indians are living in severe poverty.

Would it be wise to give another country a 750 million dollar loan?

India's own house needs some attention I assume?

 

[Zabaniyah]

So... Is this a bad thing?

We never know...

 

[Halwa]

Don't know, perhaps it is.
Knowing that hundreds of millions of Indians are living in severe poverty.

Would it be wise to give another country a 750 million dollar loan?

India's own house needs some attention I assume?

lol, you know nothing about giving loan since you always have been on recieving end (of aids and not loans)..anyways just to let you know that India will give 5 bn USD in Aid to Africa
India pledges $5bn to help African states meet the MDGs | Nilanjana Bhowmick | Global development | guardian.co.uk