India to provide 1 Billion dollar line of credit to Russia’s far East

Newsroom24x7 Network

Vladivostok: India will provide one billion dollar line of credit to further contribute to the development of the Russian Far-East.

This was announced by Prime Minister Narendra Modi on Thursday, 5 September 2019. He was addressing the Eastern Economic Forum here.

Modi said this is the first time that we are giving line of credit to a particular region of a country. My Government’s Act East Policy has actively engaged East Asia and today’s announcement will prove to be the take-off point of Act Far East and it is my firm belief that this step is also adding a new dimension to our economic diplomacy, the Prime minister said.

Prime Minister and Vladimir Putin, President of Russia, visit the Zvezda Shipbuilding Plant during his visit to Vladivostok (September 04, 2019)

Click here to read Prime Minister Narendra Modi’s speech at the Plenary Session of 5th Eastern Economic Forum.

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