· Bangladesh will soon import defence related items from India under the USD 500 million Line of Credit provided by New Delhi as several identified equipment are being fast tracked, according to Foreign Secretary Harsh Vardhan Shringla.
· His remarks came after President Ram Nath Kovind, who is Dhaka on his maiden state visit at the invitation of his counterpart M Abdul Hamid to attend the golden jubilee celebrations of Bangladesh's independence from Pakistan in 1971, held delegation-level talks with the country's top leadership.
· Prime Minister Sheikh Hasina called on President Kovind and the two leaders discussed several issues of mutual interest and bilateral cooperation.
· They reviewed the progress in the multifaceted and comprehensive bilateral ties.
· In 2019, India provided USD 500 million Line of Credit to Bangladesh for defence-related procurement in the neighbouring country.
· Export Import Bank of India (Exim Bank) entered into an agreement on April 11 with Bangladesh's Armed Forces Division for making available to the latter a Government of India-supported LoC of USD 500 million.
· The LoC is for the purpose of financing defence-related procurement in Bangladesh.
· In April 2017 during Prime Minister Hasina's visit to New Delhi, India committed USD 500 million LoC for Bangladesh's defence.