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PM Modi announces new $2 billion line of credit to Dhaka
NEW DELHI: India has formalized the 40-year-old Land Boundary Agreement with Bangladesh on Saturday during Prime Minister Narendra Modi's visit to Dhaka. This will enable the two countries to exchange land enclaves in each other's territory.
Foreign secretaries of India and Bangladesh signed and exchanged the instruments of exchange in the presence of Prime Minister Modi and and his Bangladeshi counterpart Sheikh Hasina.
Parliament, a few weeks ago, unanimously approved a Constitution Amendment Bill to give full effect to the Land Boundary Agreement of 1974 with Bangladesh and the related 2011 Protocol.
The pact is aimed at the acquiring of territories by India and the transfer of territories to Bangladesh through retaining of adverse possession in pursuance of the 1974 agreement between the two nations.
AS IT HAPPENED: PM Modi in Bangladesh — Day 1
Assam, West Bengal, Tripura and Meghalaya all fall under the bill.
According to a joint census conducted by both the countries, there are 111 Bangladeshi enclaves in India that houses 37,369 people while 14,215 people have been residing at 55 Indian enclaves in Bangladesh.
The agreement with Bangladesh will mean exchange of a series of enclaves. Assam alone will have to hand over 250 acres.
Speaking at a joint briefing with his Bangladeshi counterpart, the Prime Minister said, "The visit is at a historic moment. We have resolved a question that has lingered since Independence. Our two nations have a settled boundary. It will make our borders more secure and people's life there more stable. Our Parliament's approval of Land Boundary Agreement reflects the consensus in India on relations with Bangladesh."
READ ALSO: Full text of PM Modi's joint statement in Dhaka
"We accepted the settlement of the maritime boundary last year. It is evidence of the maturity of our ties and our shared commitment to international rules. So, we stand at a moment of huge opportunity in our relationship. Prime Minister (Sheikh Hasina) and I recognize that."
"We will work together to harness the rich potential of our relationship. And, we will address our challenges in a spirit of friendship and from a position of mutual trust and confidence," Modi said.
Modi also emphasized the importance of trade and commerce between the two countries.
In his statement he said, "Now, we are successful fellow travelers on the road to development. Our growing cooperation is a picture of my deeply held belief in the shared prosperity of neighbours. That is why the future I dream for India is the future I wish for Bangladesh."
READ ALSO: Big gains from India-Bangladesh PMs' meet, CII says
"As we deepen our political engagement and celebrate our rich inheritance, as our economies get more integrated and our people better connected, our nations will become more prosperous. It will also open new economic doors for India's northeast. And, it will enable our two countries to integrate South Asia and connect it with the dynamic east," he added.
The Prime Minister also announced a new line of credit of $2 billion to Bangladesh.
Announcing this, he said, "Our development partnership is scaling new heights. The quick implementation of the line of credit of $800 million and full disbursement of $200 million in grant is a tribute to our cooperation. We are pleased to extend another line of credit of $2 billion to support infrastructure and other development activities in Bangladesh."
Modi also expressed his optimism on the two countries' cooperation to prevent illegal activities.
He said, "As the three agreements on human trafficking, fake Indian currency and maritime safety show, our security cooperation is growing. I am confident that we both have the political will and mutual confidence to further improve border management and coordination to prevent illegal activities, trafficking and movements."
BLOG: Modi has an opportunity to reboot India-Bangladesh ties
On sharing river waters bwteeen the two countries, he said, "Our rivers should nurture our relationship, not become a source of discord. Water sharing is, above all, a human issue. It affects life and livelihood on both sides of the border. We have shown political resolve and mutual goodwill with the Land Boundary Agreement. I am confident that with the support of state governments in India, we can reach a fair solution on Teesta and Feni rivers. We should also work together to renew and clean our rivers."
India, Bangladesh ratify historic land deal, Narendra Modi announces new $2 billion line of credit to Dhaka - The Times of India
NEW DELHI: India has formalized the 40-year-old Land Boundary Agreement with Bangladesh on Saturday during Prime Minister Narendra Modi's visit to Dhaka. This will enable the two countries to exchange land enclaves in each other's territory.
Foreign secretaries of India and Bangladesh signed and exchanged the instruments of exchange in the presence of Prime Minister Modi and and his Bangladeshi counterpart Sheikh Hasina.
Parliament, a few weeks ago, unanimously approved a Constitution Amendment Bill to give full effect to the Land Boundary Agreement of 1974 with Bangladesh and the related 2011 Protocol.
The pact is aimed at the acquiring of territories by India and the transfer of territories to Bangladesh through retaining of adverse possession in pursuance of the 1974 agreement between the two nations.
AS IT HAPPENED: PM Modi in Bangladesh — Day 1
Assam, West Bengal, Tripura and Meghalaya all fall under the bill.
According to a joint census conducted by both the countries, there are 111 Bangladeshi enclaves in India that houses 37,369 people while 14,215 people have been residing at 55 Indian enclaves in Bangladesh.
The agreement with Bangladesh will mean exchange of a series of enclaves. Assam alone will have to hand over 250 acres.
Speaking at a joint briefing with his Bangladeshi counterpart, the Prime Minister said, "The visit is at a historic moment. We have resolved a question that has lingered since Independence. Our two nations have a settled boundary. It will make our borders more secure and people's life there more stable. Our Parliament's approval of Land Boundary Agreement reflects the consensus in India on relations with Bangladesh."
READ ALSO: Full text of PM Modi's joint statement in Dhaka
"We accepted the settlement of the maritime boundary last year. It is evidence of the maturity of our ties and our shared commitment to international rules. So, we stand at a moment of huge opportunity in our relationship. Prime Minister (Sheikh Hasina) and I recognize that."
"We will work together to harness the rich potential of our relationship. And, we will address our challenges in a spirit of friendship and from a position of mutual trust and confidence," Modi said.
Modi also emphasized the importance of trade and commerce between the two countries.
In his statement he said, "Now, we are successful fellow travelers on the road to development. Our growing cooperation is a picture of my deeply held belief in the shared prosperity of neighbours. That is why the future I dream for India is the future I wish for Bangladesh."
READ ALSO: Big gains from India-Bangladesh PMs' meet, CII says
"As we deepen our political engagement and celebrate our rich inheritance, as our economies get more integrated and our people better connected, our nations will become more prosperous. It will also open new economic doors for India's northeast. And, it will enable our two countries to integrate South Asia and connect it with the dynamic east," he added.
The Prime Minister also announced a new line of credit of $2 billion to Bangladesh.
Announcing this, he said, "Our development partnership is scaling new heights. The quick implementation of the line of credit of $800 million and full disbursement of $200 million in grant is a tribute to our cooperation. We are pleased to extend another line of credit of $2 billion to support infrastructure and other development activities in Bangladesh."
Modi also expressed his optimism on the two countries' cooperation to prevent illegal activities.
He said, "As the three agreements on human trafficking, fake Indian currency and maritime safety show, our security cooperation is growing. I am confident that we both have the political will and mutual confidence to further improve border management and coordination to prevent illegal activities, trafficking and movements."
BLOG: Modi has an opportunity to reboot India-Bangladesh ties
On sharing river waters bwteeen the two countries, he said, "Our rivers should nurture our relationship, not become a source of discord. Water sharing is, above all, a human issue. It affects life and livelihood on both sides of the border. We have shown political resolve and mutual goodwill with the Land Boundary Agreement. I am confident that with the support of state governments in India, we can reach a fair solution on Teesta and Feni rivers. We should also work together to renew and clean our rivers."
India, Bangladesh ratify historic land deal, Narendra Modi announces new $2 billion line of credit to Dhaka - The Times of India
