India inks one billion dollar loan deal with Bangladesh

UPDATED ON AUG 08, 2010 10:47 PM IST
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India and Bangladesh signed a one billion US dollars credit line agreement on Saturday in Dhaka, which will be used for development of infrastructure in Bangladesh. The $1 billion credit deal, which was offered during a visit by Prime Minister Sheikh Hasina to India six months ago, carries 1.75 percent annual interest and would be repayable in 20 years including a five-year grace period.

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