India and Bangladesh to set up monitoring committee to review project implementation

India and Bangladesh have agreed to set up a ‘High Level Monitoring Committee’ headed by the Secretary, Economic Relations Division of Bangladesh and High Commissioner of India in Bangladesh to regularly review the progress of implementation of projects being run with Line of Credit (Loc) provided by India.

The decision was taken during the 6th meeting of the Joint Consultative Commission (JCC) which was held on a virtual platform on Tuesday. External Affairs Minister Dr. S. Jaishankar and Foreign Minister of Bangladesh Dr. A.K. Abdul Momen jointly chaired the meeting. A Joint Statement on JCC was released by the External Affairs Ministry to highlight the important issues discussed during the meeting and decisions taken.

India assured Bangladesh that it will expedite the investment proposal from Bangladesh in case they face delays in approval. On the proposal of Bangladesh inviting investment from top investor of India, the External Affairs Minister Dr. S. Jaishankar assured that it will encourage the potential investors to invest in Bangladesh.

Expressing satisfaction over the pace of defence cooperation including in training, exchanges and capacity building measures, the statement welcomed the proposal to hold the next meeting of the Annual Defence Dialogue in November. Bangladesh also urged an early implementation of the Defence Line of Credit.