News Brief
Neighbourhood First: India Extends 308 Lines Of Credit Worth Over $32 Billion, With Most Beneficiaries In Asia, Africa
External Affairs Minister, Dr S Jaishankar.
India has extended a total of 308 lines of credit (LOC), amounting to approximately $32.02 billion, to several partner countries, including Sudan, Fiji, Bangladesh, Myanmar, and Nepal, according to the Ministry of External Affairs as reported by The Print.
The information was provided in response to a question in the Rajya Sabha by Bharatiya Janata Party (BJP) MPs Iranna Kadadi, Anil Jain, and Satish Chandra Dubey. These funds have been utilised for over 600 projects in various sectors such as infrastructure, power, connectivity, and health.
Minister of State for External Affairs, V Muraleedharan, detailed the distribution of the LOC, indicating that about $17.06 billion has been allocated to Asian countries, $12.15 billion to African nations, and $2.81 billion to countries elsewhere.
As part of India's 'Neighbourhood First' policy, grant assistance projects have also been established with countries like Afghanistan, Bangladesh, Maldives, Myanmar, Nepal, Sri Lanka, and Bhutan.
Highlighting India's global capacity-building efforts, Muraleedharan mentioned the Indian Technical and Economic Cooperation Programme (ITEC), which offers capacity-building assistance to partners in the Global South.
The ITEC, established in 1964, provides scholarships to more than 160 countries annually, with over 14,000 training slots available for civilian and defense courses.
India's grant assistance projects include support for infrastructure development in partner countries such as Bangladesh, the construction of rail links, the development of the sugar industry in Ethiopia, and the establishment of power plants in Sudan.
Additionally, India has initiated projects like the India-Nepal cross-border Jaynagar-Bardibas rail link, the restoration of the Thiruketheeswaram temple in Sri Lanka, and the construction of the India-Bangladesh Friendship Pipeline.
In addition to funding assistance, India has implemented the e-VidyaBharati and e-ArogyaBharati Network Project, to provide tele-education and telemedicine services in Africa.
These initiatives reflect India's commitment to strengthening ties and contributing to the development of partner nations.
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