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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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