Dhaka, Aug 7 (IANS): Bangladesh Saturday inked a $1 billion loan agreement with India to finance several projects in the country.
The line of credit will be utilised for implementation of projects to be identified and approved by the Bangladesh government, the Daily Star reported.
Bangladesh's Economic Relations Department secretary M.Musharraf Hossain Bhuiyan and India's Exim Bank chairman and managing director T.C.A. Ranganathan signed the deal in presence of Bangladesh
Finance Minister A.M A. Muhith and his Indian counterpart Pranab Mukherjee, who arrived in Dhaka Saturday afternoon on a brief visit.
During the visit of Prime Minister Sheikh Hasina to India in January this year, New Delhi agreed to extend a line of credit of $1 billion to Dhaka through the bank.