India Extended $500mn Line of Credit to Bangladesh for Defence Imports

    While addressing a press conference in the national capital, the Foreign Secretary in the Ministry of External Affairs (MEA), Harsh Vardhan Shringla said, “Security and defence is an important part of our cooperation with Bangladesh. In recent years, we have signed an agreement on defence cooperation. We have extended a $500 million line of credit for defence imports from India into Bangladesh.”

    “We have undertaken joint military exercises, training and capacity building exercises regularly.

    There are regular visits of Chiefs of Army Staff between both countries. It is a regular practice for chiefs of all of our armed forces to visit Bangladesh and vice-versa,” he added.

    India recently extended a helping hand to Mauritius where it offered a $100 million Defence Line of Credit to facilitate the procurement of defence assets.

    India also signed a $50 million credit of line agreement for defence projects with the Maldives to boost the maritime capabilities of the strategic island nation.

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