India-Bangladesh Current Affairs

EXIM Bank extends $4.5 billion loan to Bangladesh for social, infrastructure projects

The Export-Import Bank of India (Exim Bank) will provide loans worth about US $4.5 billion (Rs 29,200 crore) to Bangladesh for financing of various social and infrastructure projects. In this regard, Exim Bank has entered into agreement with Bangladesh Government in October 2017 to extend this line of credit (LoC) facility on behalf of Government of India (GoI).

Key Facts

Bangladesh will also use this financing facility to import consultancy services from India. Under the arrangement, financing export of eligible goods and services from India will be allowed which are eligible for export under Foreign Trade Policy of GoI and whose purchase may be agreed to be financed by Exim Bank under this agreement. The goods include plant, services (including consultancy services) and machinery and equipment.

Export-Import Bank of India (Exim Bank)

Exim Bank is wholly owned GoI entity for financing, facilitating and promoting foreign trade of India. It was setup in 1982 and is headquartered in New Delhi. It extends LoC to overseas financial institutions, regional development banks, sovereign governments and other entities abroad. It enables buyers in those countries to import developmental and infrastructure, equipment’s, goods and services from India on deferred credit terms. It also facilitates investment by Indian companies abroad for setting up subsidiaries, joint ventures or overseas acquisitions.

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First ever ‘crime-free zone’ along India, Bangladesh international border launched

The director generals of Border Security Force (BSF), India and Border Guard Bangladesh (BGB) have declared 8.3 km stretch of Indo-Bangladesh border as first ‘crime-free zone’. The stretch covers Gunarmath and Kalyani Border Out Posts (BOPs) in India and Puthkhali and Daulatpur BOPs in Bangladesh across border.

Key Facts

Bangladesh and India share 4,156 km long international border. It is longest international border shared by India with its neighbours. It passes through five states viz. Assam (262 km), Tripura (856 km), Mizoram (180 km), Meghalaya (443 km) and West Bengal (2,217 km).

The first ‘crime-free zone’ stretch is one of most vulnerable to crimes like cattle smuggling and others. Both border guarding forces with help of civil administrations of two countries, NGOs and local populance will help in ensuring that no crime takes place along stretch.

Both forces will work together to ensure that no crime or anti-social activity occurs along this stretch. This is pilot project that will be reviewed after 5-6 months. It will be extended to other trouble-prone areas to target more difficult areas along 913 km of Indo-Bangladesh border under BSF’s South Bengal Frontier.

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