<span style="background-color: transparent; color: #000000;">The Project Management  Consultancy (PMC) services contract for the upgradation of the Mongla port was signed in Dhaka on Monday. <br />''<br />''The project is being financed under India's concessional Line of Credit (LOC) of USD 4.5 billion extended to Bangladesh.<br />''The contract was signed between Mongla Port Authority (MPA) and EGIS India Consulting Engineers Pvt. Ltd. The total project cost under Government of India concessional Line of Credit is USD 530 million of which PMC contract awarded to EGIS  India Consulting Engineers Ltd. is for USD 9.60 million.<br />''<br />''Bangladesh  State Minister of Shipping Khalid Mahmud Chowdhury MP, was the Chief Guest for the event. High Commissioner of India to Bangladesh Pranay Verma and Secretary, Ministry of Shipping  Md. Mostafa Kamal, attended the event as Special Guests.<br />''<br />''High Commissioner Verma in his address highlighted that Bangladesh is India's largest development partner, both in terms of value and number of projects. Nearly one fourth of India's global development assistance is extended to various projects in Bangladesh, covering a variety of sectors. This robust development cooperation is a reflection of India's commitment in partnering with Bangladesh in its journey towards greater growth and prosperity. He emphasised that various connectivity projects like the Mongla Port project, once completed, would have a transformational impact on not only India-Bangladesh economic relations but also on the economy of the entire sub-region.<br />''<br />''The 'Upgradation of Mongla Port' project is the largest project in the Shipping and Ports sector which Government of India is financing under its concessional loans. The development of this port will strengthen maritime connectivity for Bangladesh, not just for the movement of goods with India but also with Bhutan and Nepal. <br />''<br />''India is also providing concessional financing for the Khulna-Mongla Port rail line project and the Khulna-Darsana rail line project. With the completion of these projects, Mongla Port would become the only port in Bangladesh with rail connectivity, making it a truly multi-modal hub and unlocking immense economic potential, said an official press release issued by the High Commission of India in Dhaka. <br />''<br />''Government of India has extended four concessional Lines of Credit to the Government of Bangladesh till date, worth USD 7.862 billion. Under the concessional loans, 42 projects have been taken up so far. Of these, 14 projects have already been completed. Over USD 2 billion worth of projects have been contracted and actual disbursements have crossed  USD 1 billion.</span><br />