The economic zone of Bangladesh dedicated to Indian investors is set to avail $115 million under the third credit line from India. Md. Moniruzzaman, Joint Secretary and General Manager, Investment Promotion of the Bangladesh Economic Zones Authority (BEZA) has confirmed to IANS. Based on the government-to-government deal, the proposed zone spreading over 1,000 acres of land is being developed by the Indian conglomerate Adani Ports and Special Economic Zone Limited. The Bangladesh Prime Minister’s Office (PMO) had approved Adani as a developer early this year.

The BEZA, an investment promotion agency under the PMO, had signed a memorandum of understanding with the Indian government for developing the zone in June 2015. New economic zones in Bangladesh have already attracted a good number of foreign investors. The Indian investment is confirmed for another economic zone at the Mongla port, said Moniruzzaman.