$2b line of credit

India includes 12 projects

According to ERD, both sides have expressed satisfaction about implementation of the projects under the first LoC

India has included 12 projects under the second line of credit (LoC), which is worth USD 2 billion, from among 14 formal project proposals sent by the Bangladesh government.

Besides, India has sent a detailed project report (DPR) on the development of Ashuganj river port as the neighbouring country will develop it for transhipment.

Both governments have agreed to implement the 14 projects under the second LoC. The other two projects are currently under New Delhi’s consideration for inclusion in the LoC.

This was learnt from the latest implementation status report prepared by the Indian government, which was sent to the Economic Relations Division (ERD).

ERD sources have said most the projects have been primarily approved by the Planning Commission and are awaiting commercial contracts of the approved projects.

The ERD officials said the commercial contracts would be signed after the Exim Bank of India agrees.

According to the ERD, both sides have expressed satisfaction about the implementation of the projects under the first LoC.

During his Dhaka visit in June 2015, Indian Prime Minister Narendra Modi had signed a memorandum of understanding (MoU) between India and Bangladesh for extending a new LoC worth USD 2 billion.

Under the agreement, Bangladesh has to adopt a transparent procedure, based on competitive bidding, for awarding the eligible contract to Indian sellers.

Bangladesh may conduct bidding in line with the prevailing procurement laws, rules and regulations of the country to ensure that the award of the eligible contract to the seller is made in a fair and transparent manner. The rules and regulations relating to the competitive bidding should be clearly defined and details should be provided to the Exim Bank in advance.

According to the agreement, Bangladesh has to award the eligible contract to the seller based on a competitive bidding process. The bidding should be restricted to Indian companies registered in India or incorporated or established under any law in force in India.

Bangladesh needs to publicise the bids widely for the eligible contract through websites or any other suitable media and also in India through the websites of the Exim Bank and industry associations in India.

Besides, copies of tender notices (including corrigenda) and bid documents have to be approved by the Exim Bank prior to the flotation of the tenders.

Bangladesh will have to submit to the Exim Bank the procedures proposed to be followed for the selection of Indian contractors or suppliers along with the prequalification criteria and complete set of tender documents, clearly identifying milestones linked to progress of each project and payments relating to that.

$2b line of credit

India includes 12 projects

According to ERD, both sides have expressed satisfaction about implementation of the projects under the first LoC

India has included 12 projects under the second line of credit (LoC), which is worth USD 2 billion, from among 14 formal project proposals sent by the Bangladesh government. Besides, India has sent a detailed project report (DPR) on the development of Ashuganj river port as the neighbouring country will develop it for transhipment. Both governments have agreed to implement the 14 projects under the second LoC. The other two projects are currently under New Delhis consideration for inclusion in the LoC. This was learnt from the latest implementation status report prepared by the Indian government, which was sent to the Economic Relations Division (ERD). ERD sources have said most the projects have been primarily approved by the Planning Commission and are awaiting commercial contracts of the approved projects. The ERD officials said the commercial contracts would be signed after the Exim Bank of India agrees. According to the ERD, both sides have expressed satisfaction about the implementation of the projects under the first LoC. During his Dhaka visit in June 2015, Indian Prime Minister Narendra Modi had signed a memorandum of understanding (MoU) between India and Bangladesh for extending a new LoC worth USD 2 billion. Under the agreement, Bangladesh has to adopt a transparent procedure, based on competitive bidding, for awarding the eligible contract to Indian sellers. Bangladesh may conduct bidding in line with the prevailing procurement laws, rules and regulations of the country to ensure that the award of the eligible contract to the seller is made in a fair and transparent manner. The rules and regulations relating to the competitive bidding should be clearly defined and details should be provided to the Exim Bank in advance. According to the agreement, Bangladesh has to award the eligible contract to the seller based on a competitive bidding process. The bidding should be restricted to Indian companies registered in India or incorporated or established under any law in force in India. Bangladesh needs to publicise the bids widely for the eligible contract through websites or any other suitable media and also in India through the websites of the Exim Bank and industry associations in India. Besides, copies of tender notices (including corrigenda) and bid documents have to be approved by the Exim Bank prior to the flotation of the tenders. Bangladesh will have to submit to the Exim Bank the procedures proposed to be followed for the selection of Indian contractors or suppliers along with the prequalification criteria and complete set of tender documents, clearly identifying milestones linked to progress of each project and payments relating to that.