India will sponsor the construction of a “friendship” building at Bangladesh National Police Academy.
According to official sources, the Bangladesh-India Friendship Building at the police academy in Sardah of Rajshahi will cost Rs8.09 crore or Tk9.49 crore.
Bangladesh’s Home Ministry has recently taken consent for the proposal from the Finance Division and the draft contract in this regard. Construction of the building is likely to start in March.
The amount to be disbursed as grant from India will also include the cost of building an IT centre at the academy.
A Finance Ministry official said it was a good news for the economy that the flow of assistance, loan and grants from India had risen in recent years.
The fresh $2bn credit line from India is likely to be disbursed in the next three months as the authorities concerned agreed to terms and conditions. The amount will be mostly used to further enhance bilateral connectivity.
A landmark $1bn soft loan from India in 2010 was mainly used for developing infrastructure in Bangladesh.