Accelerated pace of Indian LoC projects

12 July, 2020 12:00 AM printer

It is pleasant to note that after certain initial hiccups, a good number of projects under the India Line of Credit (LoC) has gathered momentum with increased fund release and accelerated pace of implementation during the last two fiscal years. According to sources inside the government’s Economic Relations Division (ERD), implementation of the LoC projects gained momentum with increased fund disbursement in FY ’19 and FY ’20.

It is gathered from a front page story of this daily yesterday that nearly four dozens of projects under three LoCs got stuck for years mainly because of bureaucratic red tape, land acquisition problem and changes in designs and consultants. But as the hurdles were removed through a series of bilateral meets between the two countries, the schemes raise the hope of quicker implementation.

It may be mentioned that India and Bangladesh have so far signed three LoCs of a total of $7.5 billion. A good number of projects under the said LoCs have already been completed and, with the momentum gathered, the rest are expected to see completion at a quicker pace.  The projects linked to road transport, railway, shipping, civil aviation and many others are so designed that successful implementation of the same will boost connectivity between the two countries and accelerate trade and commerce for mutual benefit.

India is a time tested friend of Bangladesh. This historically and culturally bound common border neighbour extended to us the greatest helping hand during our Liberation War in 1971. Many of its soldiers even shed blood for our freedom from colonial subjugation. No other help could be greater than this.

From then on, the relationship between these two brotherly countries did not have to look back; it has now assumed the proportion of a role model in good neighbourliness and inter-state relationship. From this very spirit, India extended hands of cooperation to Bangladesh and agreed to help us overcome infrastructural hindrances. No hurdles whatsoever should therefore be allowed to stand in the way of better connectivity between the people of the two countries.