Projects to get buyer's credit from India

New Delhi, April 26: India said it will provide buyer's credit for projects in Bangladesh in a bid to boost bilateral trade.

Buyer's credit is the credit received by an Importer (buyer) from overseas lenders for payment of his imports. Buyer's credit is generally given on the understanding that the project developers would source equipment or technology from the credit-giving country.

"We will provide buyer's credit for projects in Bangladesh," said Indian Commerce Minister Anand Sharma on his return from Dhaka on Sunday.

Although the minister did not disclose the amount, it is believed that India may extend around $100 million.

Source: The Daily Star