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During his visit to Vietnam, Defence Minister Rajnath Singh will hand over twelve high-speed guard boats constructed under India's USD 100 million Defence Line of Credit.
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The “short-term concessional loan facility” will be provided by SBI, under an agreement signed between the two governments during the visit of Sri Lankan Finance Minister Basil Rajapaksa.
With an aim to fulfil its commitment for the overall development and security of its maritime neighbour, India has signed a $50 million Line of Credit agreement in the defence sector with the Maldives. External Affair Minister Dr S Jaishankar said that the agreement will facilitate capability building in the maritime domain.
The President of India, Ram Nath Kovind had a valuable dialogue with the President of Benin, Patrice Talon yesterday, where India announced to offer Benin a $100 million Line of Credit for development projects.
India and Bangladesh today signed the massive third line of credit agreement involving 4.5 billion dollar for infrastructure and social sector development. The line of credit was signed in the presence of Union Finance Minister Arun Jaitley, who is on a 3-day visit to Bangladesh, and his counterpart AMA Muhith. The line of credit agreement was announced during Prime Minister Sheikh Hasina's recent New Delhi visit.
