Bangladesh, Bhutan, India, Nepal (BBIN) Initiative

 BBIN is a sub-regional architecture of countries in South Asia.

 It meets through official representation of member states to formulate, implement and review quadrilateral agreements across areas such as water resources management, connectivity of power, transport, and infrastructure.

 India proposed a SAARC Motor Vehicle Agreement during the SAARC Summit in Kathmandu in November 2014.

 Due to objections from Pakistan, an agreement could not be reached.\

 India instead pursued a similar motor vehicle agreement with the BBIN.

 The agreement will permit the member states to ply their vehicles in each other's territory for transportation of cargo and passengers, including third country transport and personal vehicles.

 India approved $1.08 Billion for construction and upgradation of 558 km long roads that join Bangladesh, Bhutan and Nepal.

 The project will receive 50% funding from Asian Development Bank.