Expressing satisfaction over the progress in Line of Credit to Bangladesh, Foreign Secretary Harsh Vardhan Shringla on Wednesday said that India has disbursed 10 billion dollars in LOC money despite the COVID-19 pandemic.
Foreign Secretary also said that India extended 10 billion dollars to Bangladesh which is at highly concessional credit terms as Dhaka accounts for almost a third of our LOC.
"We have made good progress in a line of credit (LOC), as Bangladesh accounts for almost a third of our line of credit. 10 billion dollars is what India extended to Bangladesh, which is at highly concessional credit terms. These lines of credit have contributed to enhancing our connectivity, infrastructure, not just at the border but different parts of Bangaldesh," Shringla said in Dhaka.
He further said: "We are very satisfied with the progress of these lines of credit. We are going to work on further streamlining this, looking at another package."
"Last year despite Covid we disbursed 120 million dollars in LOC money," Shringla added.
Speaking about the Quad, the Foreign Secretary said that it includes four countries that have come together to work with other countries in the Indo-Pacific in a positive constructive, cooperative manner.
"Quad is just four countries that have come to work with other countries in the Indo-Pacific in a positive constructive, cooperative manner whether is it is a vaccine, climate change, new technologies and HADR. The idea is to work with countries in the Indo-Pacific region to provide them with the means to attend to our common vision of a free, open, transparent inclusive Indo-Pacific," he said.
The Foreign Secretary addressed a special Ministry of External Affairs briefing in Dhaka today.
( With inputs from ANI )
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