India Approves $750 Million Loan To Develop Bangladesh’s Infrastructure

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Context

India has approved a $750 million loan for Bangladesh to develop its infrastructure. The announcement came ahead of Indian Prime Minister Manmohan Singh’s visit to Dhaka this week. The funding is part of the $1 billion credit agreement between the two countries to develop infrastructure projects in Bangladesh.

This move is seen as an effort to improve relations between the two neighbors, and to enhance trade links. New Dehli is looking for access to ports for its landlocked portions. Bangladesh has agreed to allow its neighbor use of Chittagong and Mongla ports.

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