INDIA HANDS US$50-MILLION GRANT TO BANGLADESH

12 Jul 2013 11:19

DHAKA, July 12 (Bernama) -- India on Thursday handed over US$50 million to Bangladesh as the third and final tranche of a US$200-million grant commitment, Press Trust of India (PTI) reported.

A cheque was handed by Indian High Commissioner to Dhaka, Pankaj Saran to Bangladesh Finance Minister A M A Muhith in Dhaka.

With this, India has completed the disbursement of US$150 million grant assistance to Bangladesh, the Indian High Commission said in a statement.

At the signing ceremony, Saran briefed Minister Muhith on the latest status of ongoing projects under India's remaining US$800-million line of credit, which India is committed to implementing on a priority basis.

Both officials also noted the success of investor road shows organised in Mumbai, Kolkata and South Indian city of Chennai in June by the Board of Investment of Bangladesh, the statement said.

The road shows were organised in partnership with the Confederation of Indian Industry and the India-Bangladesh Chamber of Commerce and Industry, which saw the signing of memorandum of understandings (MoUs) amounting to US$100 million between companies from both nations for investment in Bangladesh.

--BERNAMA

EE