"Akhaura-Agartala Rail Link Expected to Bolster Indo-Bangladesh Trade, Says EXIM Bank"

In a significant development, the three projects inaugurated by Indian Prime Minister Narendra Modi and Bangladeshi Prime Minister Sheikh Hasina on Wednesday have reestablished the connectivity network between the two countries, which had been severed after the partition of India in 1947.

The leaders jointly inaugurated three projects, including the Akhaura-Agartala Cross-Border Rail Link, the Khulna-Mongla Port Rail Line Project, and the Maitree Super Thermal Power Project. The Akhaura-Agartala Cross-Border Rail Link has now become the shortest rail link between Northeastern Indian states and West Bengal.

N. Ramesh, Deputy Managing Director of EXIM Bank of India, emphasized the significance of this enhanced connectivity, stating, "On the connectivity part, the emphasis is reestablished by not only handling and establishing connectivity with Bangladesh, but also by providing the northeastern states with connectivity to mainland India. Connectivity from Tripura to Calcutta, Tripura to Dhaka, and Agartala to Dhaka is now established, and we believe that two-way trade is going to flourish with this connectivity enhancement."

EXIM Bank of India has extended significant support to Bangladesh through Lines of Credit and Concessional Financing Scheme, with a current exposure of about $7.9 billion, the highest among neighboring countries. The bank has provided more than $33 billion in Lines of Credit and financing to over 65 countries.

The 1,320 MW Maitree Super Thermal Power Plant Project is expected to have a transformative impact on power generation capacity and supply in the Khulna region, benefiting various sectors, including trade, business, agriculture, and industry.

The Khulna-Mongla Port Rail Line Project is set to enhance trade and connectivity between the key growth centers of Khulna and Mongla, allowing India, Nepal, and Bhutan to utilize the seaport and boost trade between Bangladesh and neighboring countries.

EXIM Bank has also financed other major projects in Bangladesh, including transmission lines for the Ruppur Nuclear Power Plant and the development of 12 Information Technology parks, among others."

ET