India set to ink $4.5-bn credit deal with Bangladesh: 

India set to ink $4.5-bn credit deal with Bangladesh

Context:

  • The Finance Minister’s visit to Bangladesh

Why is it important?

  • Both the countries will sign the third Line of Credit (LOC) agreement involving $4.5 billion
  • The Line of Credit is primarily meant for the development of infrastructure and social sector
  • This Line of Credit was announced by India recently during the visit of Bangladesh’s Prime Minister

What are the other pacts to be signed?

  • A pact on investment promotion and protection
  • A new scheme for cashless transactions in visa services run by the State Bank of India.
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