A helping hand

With a line of credit worth $4.5 billion coming our way from India, the possibilities are endless. The LoC, the third of its kind between Bangladesh and India, was signed Wednesday in the presence of Indian Finance Minister Arun Jaitley and Bangladesh’s Finance Minister AMA Muhith, and is the largest LoC India has ever given, to any country. This spells great news for Bangladesh, as the funds will be used on 17 major projects in the country, most of them towards infrastructural development. Bangladesh is at a crucial juncture in its development path, and these major infrastructure projects are what will take us to the next level. Our major highways have long needed upgrading, and this LoC will also largely go towards the improvement of our three major highways, thereby increasing connectivity within the nation and giving a boost to trade. Much work also needs to be done on the Chittagong and Mongla seaports, which have been facing vessel congestion due to inadequate infrastructure, particularly a lack of jetty facilities. A good portion of the credit will be used towards power evacuation facilities, which take power from the plant to the national grid immediately after production. The development of economic zones for Indian investors will also make it easier to do business across the border, and is likely to give a tremendous boost to employment here in the country. All in all, this new line of credit is a great boon to Bangladesh. We thank the Indian government for making this possible, and hope for smooth and speedy implementation of all projects.