Bangladesh to begin three major infrastructure projects

In September, Bangladesh is scheduled to begin three significant infrastructure projects with financial support from India, one of which is a power plant. Pranay Verma, the Indian High Commissioner in Dhaka, met with Bangladesh Prime Minister Sheikh Hasina at her official residence in Ganobhaban to discuss matters including connectivity, the Taka-Rupee exchange system between the two nations, and ongoing projects funded by Indian Lines of Credit and Grants. The prime minister of Bangladesh and the representative of India both expressed satisfaction with the level of bilateral relations. During the upcoming G20 Summit in New Delhi, Sheikh Hasina hoped that India would speak out in support of the Global South alongside the rest of the globe.

When Prime Minister Hasina visits India in September for the G20 Summit, construction on the two railway lines and the 660-megawatt superthermal power plant will begin at the same time. The power plant is the second unit of the Rampal power plant in southwest Bangladesh. The 65-kilometre Khulna-Mongla Port Railway Link and the Akhaura (Bangladesh) and Agartala (India) Railway Link are the other major projects. The power plant and the train line between Khulna and Mongla Port were developed using an Indian Line of Credit, whereas the railway link between Akhaura, Bangladesh, and Agartala, India, was created using an Indian Grant.

Last week, Bangladesh and India began trading in local currency to lessen their reliance on the US dollar and to support regional trade and currency. The first time Bangladesh began bilateral trade with a foreign nation using a currency other than the US dollar was during this period. According to the legal agreement, trading will initially be conducted in rupees before progressively shifting to Bangladeshi Taka.