Pacts signed on cruise services, regulation of motor vehicles between India, Bangladesh

| Updated: Apr 08, 2017 23:15 IST

New Delhi [India], Apr. 8 (ANI): Pacts in the field of passenger, cruise services on the coastal and protocol route and regulation of motor vehicle were signed between India and Bangladesh on Saturday. The shipping ministries of both nations signed a Memorandum of Understanding (MoU) and Standard of Procedures (SoP) on passenger and cruise services on the coastal and protocol route. A MoU was also signed for development of a Fairway from Sirajganj to Daikhowa and Ashuganj to Zakiganj on the Indo-Bangladesh protocol route. An agreement was also signed for the Regulation of Motor Vehicle Passenger Traffic (Khulna-Kolkata route) between Bangladesh and India. Apart from these, a total of 22 MoUs and one financial agreement were signed following delegation level talks between India and Bangladesh. India also extended a credit line of US dollars 4.5 billion to Bangladesh to help it to implement development projects. "I am happy to announce a new concessional Line of Credit of 4.5 billion dollars for the implementation of projects in priority sectors for Bangladesh. This brings our resource allocation for Bangladesh to more than eight billion dollars over the past six years," Prime Minister Modi said at a joint press conference at Hyderabad House here. Prime Minister Modi also announced a USD 500 million credit line to support Bangladesh's defence-related procurements. "I am also happy to announce a Line of Credit of US dollars 500 million to support Bangladesh's defence-related procurement. In implementing this line of credit, we will be guided by Bangladesh's needs and priorities," Prime Minister Modi said. Prime Minister Sheikh Hasina is on a four day visit to India. (ANI)