India disburses $50m grant to Bangladesh

Indian High Commissioner in Dhaka Pankaj Saran on Wednesday handed over the second tranche of US$50 million out of the $200 million grant committed to Bangladesh by the government of India last year. The Indian envoy handed over a cheque for the grant amount when he called on Finance Minister AMA Muhith at the latter’s Secretariat office in the afternoon.
India last year committed the grant from its one billion US dollar line of credit as per an agreement signed earlier for implementing Bangladesh’s priority projects.
Earlier, in February, Indian External Affairs Minister Salman Khurshid handed over a cheque for US$50 million to Prime Minister Sheikh Hasina as the first installment of US$200 million Indian grant to Bangladesh.
Khurshid handed over the cheque when he made a courtesy call on Sheikh Hasina at her office.
Earlier, the Indian government decided to provide US$ 200 million as grant to Bangladesh out of its One Billion US Dollar Line of Credit.
Finance Minister AMA Muhith earlier said the government would use the Indian grant of US$ 200 million in the Padma bridge project if it decides to build the bridge with own funding.
During the day’s meeting, the Indian High Commissioner also briefed the Finance Minister on the preparations for the review meeting on the Indian Line of Credit, which is scheduled to be held in New Delhi from May 13-15. Muhith had recently visited India to attend the 46th Annual Meeting of the Board of Governors of the Asian Development Bank held on May 3-5. UNB

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