New Delhi, April 8 (www.bdnews24.com): Indian Prime Minister Narendra Modi has announced a US$500 million line of credit for Bangladesh’s defense related procurement and said implementation would be “guided by Bangladesh’s needs and priorities”.
He made the statement alongside his Bangladesh counterpart Sheikh Hasina at Hyderabad House on Saturday where both leaders met in bilateral talks and witnessed the exchange of documents.
“Today, we have also taken a long overdue step by signing an agreement on close cooperation between our armed forces,” Modi said while announcing the loans for military supplies.
Hasina in her statement recalled India’s “invaluable contribution” in the 1971 war of independence for which she said Bngladeshis are “deeply grateful”.
“India is certainly our most important neighbor and one of our key development partners,” she said.
Some 22 agreements and MoUs have been signed for the cooperation in different sectors for which US$4.5 billion separate Line of Credit has been announced. US$ 500 million will go for defense purchances.
“We agreed that peace, security and development for our people and for the region will remain central to our engagement,” Modi said.
The Indian Prime Minister praised Hasina for her zero-tolerance against terrorism and extremism and said: “We have the greatest admiration for Prime Minister Sheikh Hasina’s firm resolve in dealing with terrorism.
“Her government’s zero-tolerance policy towards terrorism is an inspiration for all of us.While our partnership brings prosperity to our people, it also works to protect them from forces of radicalization and extremism. Their spread poses a grave threat, not just to India and Bangladesh but to the entire region,” Modi said.
(The featured picture above shows the Indian Army Chief Gen.Bipin Rawat meeting the Principal Staff Officer of the Armed Forces Lt Gen Md Mahfuzur Rahman on April 2, 2017. Photo: ISPR)