Friday, 14 April 2017

Modi announces $4.5 billion US Dollars line of credit to Bangladesh, Teesta remains unresolved

The deal was aborted at the very last minute during former Indian prime minister Manmohan Singh's visit to Bangladesh in 2011 and has been in the doldrums since.

She appreciated the naming of a road in New Delhi after her father, Sheikh Mujibur Rahman.

The Prime Minister said with fresh assistance of United States dollars 4.5 billion, India's resource allocation for Bangladesh has recorded more than USD 8 billion over the past six years.

And a Memorandum of Understanding was signed between Geological Survey of India (GSI) and Geological Survey of Bangladesh (GSB) on Mutual Scientific Cooperation in the field of Earth Sciences for Research and Development.

The other key MoUs inked were on passenger and cruise services on the coastal and protocol route, and cooperation on cyber security and in the peaceful uses of outer space.

India also announced an additional $500 million credit for the purchase of military equipment from India.

Trump also said: "I think our dollar is getting too strong, and partially that's my fault because people have confidence in me". Trump was highly critical of Yellen during the fall campaign, accusing her of keeping borrowing rates low to help Democrats.

Trump during his election campaign had threatened punitive tariffs on Chinese imports and to declare China a currency manipulator .

Meanwhile, all of the reported independent expenditures in the Kansas race-more than $180,000-have been on the Republican side. Don't forget too that this was a special election , where short cycles and low turnouts produce unusual results.

On her part, Sheikh Hasina appreciated Modi "for his dynamism and innovative ideas that are not only taking India forward but adding value to our our bilateral relationship".

"Prime Minister Narendra Modi's comment during the joint statement of the two leaders is very important. I assure you and the people of Bangladesh of our continuing efforts on Teesta", said Modi, according to ANI. Hasina arrived in New Delhi on Friday at the start of a four day visit.

The PM said the new $4.5-billion line of credit for projects in Bangladesh will bring India's resource allocation to its neighbouring country to a little more than $8 billion over the past six years.

The one issue that has been on everyone's mind all through Bangladesh Prime Minister Sheik Hasina's visit to New Delhi has been the issue of sharing waters of the Teesta river. The treaty calls for 50:50 sharing of the waters of River Teesta between West Bengal and Bangladesh during the lean season.

DIESEL AND PETROL: India said it would finance a diesel pipeline from Numaligarh to Parbatipur. Foreign Secretary S. Jaishankar referred to Banerjee's presence to flag off Maitree Express from Kolkata to Dhaka via Khulna.

He said: "PM Sheikh Hasina & I reviewed existing cooperation & discussed new avenues of extensive cooperation that will benefit our nations & region". Mr Modi stressed significance of connectivity and lauds restoration of bus and train links between Kolkata-Khulna, and Radhikapur-Birol.