$1b Indian credit

Fund can be used for Padma Bridge: Indian official

DHAKA: The Bangladeshi government can use the promised $1 billion Indian credit line for constructing the Padma Bridge, said an Indian official on Friday.

While talking to a news agency, the official said that New Delhi does not have any objection to the diversion the credit line as the World Bank scraped loan exposing the project to a difficult state.

He said, “As per our condition, Bangladesh could use the amount for any purpose. Bangladesh can use the fund for the Padma bridge construction as it is a big project and will need huge amount of fund.”

However, the economic relations division officials in Dhaka said, “The credit amount was already channeled for different infrastructure projects, especially for railway development.”

The matter will be considered after getting any official proposal from India, they said.

 Dhaka and New Delhi signed the $1 billion loan agreement to finance infrastructure development in Bangladesh two years ago while the amount was the biggest credit package by India to any nation.

BDST: 1213 HRS, JUL 14, 2012
Edited by: Maria Salam, Asst Output Editor