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New Delhi to sign third LoC with Dhaka

Gaurav Agrawal, New Delhi
04/10/2017   0 Comments

Union Finance Minister Arun Jaitley who is on Bangladesh Visit is set to sign a $4.5billion third line of credit (LoC) to be spent on infrastructure and social sector development needs of Bangladesh. The line of credit was announced during Prime Minister Sheikh Hasina’s Visit to New Delhi in 2017.

Notably, the LoC comes with the condition on Dhaka to purchase 65-70% of services, goods or works from the Indian market, Bureaucracy Today has learnt.


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