India today signed a 1 billion dollar loan agreement to assist Bangladesh in development projects. The agreement was signed in Dhaka today by secretary to the Economic Relations Division of Bangladesh M Musharraf Hossain Bhuiyan and chairman and managing director of India's Export-Import Bank T C A Ranganathan in the presence of Finance Minister Pranab Mukerjee and Bangladesh Finance Minister A.M.A Muhith.Talking to reporters later Pranab Mukherjee said that the Line of Credit will be the stepping stone for a shared destiny and will transform the bilateral engagement between the two countries. He said India will do whatever possible to assist Bangladesh to implement various projects envisaged under this Line of Credit, including in the areas of railway infrastructure, supply of coaches, locomotives, and busses and dredging. He announced that India had decided to allow the export of three Lakh tonnes of rice and two lakh tonnes of wheat to Bangladesh.Bangladesh Finance Minister A.M.A Muhith said that this was the single largest loan assistance provided by any developing country to Bangladesh and 16 projects have already been identified for implementation with the use of the funds. During his short four hour stay in Dhaka, Finance Minister Pranab Mukherjee called on the Bangladesh Prime Minister and also has separate discussions with his Bangladeshi counter part and the Foreign Minister of Bangladesh Dr. Dipumoni.