Dhaka, Sep 10 (V7N) – Finance and Commerce Adviser Dr. Salehuddin Ahmed reaffirmed on Tuesday that projects under India's Line of Credit (LoC) will continue, emphasizing their significance for Bangladesh's development.

“These are major projects that are crucial for our progress, and we will ensure their continuation,” Dr. Salehuddin stated following a meeting with Indian High Commissioner Pranay Verma at the Finance Ministry.

The adviser highlighted the importance of these projects, dismissing any suggestion that they were minor, and underscored that Bangladesh remains an attractive destination for investment and cooperation.

Dr. Salehuddin expressed appreciation for India’s ongoing support and emphasized the mutual benefits of future collaborations. He also addressed challenges in the implementation and disbursement of the three current Indian LoC projects, assuring that efforts were underway to resolve these issues.

High Commissioner Verma reaffirmed that India has not halted any LoC projects, stressing their significance and ongoing nature. He also expressed confidence that any challenges related to project implementation would be resolved through mutual cooperation.

The two nations explored ways to strengthen their economic ties, with discussions focusing on future projects, funding, and addressing the existing trade imbalance, which favors India. Verma assured that efforts would be made to promote more quality exports from Bangladesh to India.

In addition to trade, India continues to support Bangladesh in areas such as science and technology, research, and laboratory development.

To date, Bangladesh and India have signed three LoC agreements: the first, worth $862 million in August 2010; the second, $2 billion in March 2016; and the third, $4.5 billion in March 2017.

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