Asia Unhedged | India plans US$3.5 billion credit line for Bangladesh
India's Prime Minister Narendra Modi (L) and his Bangladeshi counterpart Sheikh Hasina. Photo: Reuters, Rafiqur Rahman
India's Prime Minister Narendra Modi (L) and his Bangladeshi counterpart Sheikh Hasina. Photo: Reuters, Rafiqur Rahman
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India plans US$3.5 billion credit line for Bangladesh

The credit would support energy and transport infrastructure projects

March 28, 2017 11:00 PM (UTC+8)

According to government documents seen by Bloomberg, India is planning to give Bangladesh a credit line worth US$3.5 billion.

Bloomberg reports that the credit will go towards transport projects including ports and railways, as well as nuclear and liquefied natural gas power plants.

Pressure is building for India to increase economic influence in its backyard, as China has been shoring up relationships with the country’s neighbors including Bangladesh, Sri Lanka and Pakistan.

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