India's Groundbreaking Rupee-Denominated Credit Line to Mauritius

India has granted a 487.60 crore rupee-denominated line of credit to Mauritius for a water pipeline replacement project. This marks the first rupee-based credit under the IDEAS scheme. The plan involves replacing 100 km of obsolete pipeline, reflecting India's commitment to Global South development.

India has unveiled an innovative financial initiative by extending a 487.60 crore rupee-denominated line of credit to Mauritius, aimed at replacing the nation's aging water pipeline. This is a milestone in India's international economic strategy, under the Indian Development and Economic Assistance Scheme (IDEAS).

The replacement of nearly 100 kilometers of outdated water pipeline in Mauritius symbolizes India's dedication to enhancing infrastructure in partner countries. The line of credit will be provided by the State Bank of India on beneficial terms, further showcasing the strategic depth of Indo-Mauritian ties.

External Affairs Minister S Jaishankar announced this historic offer during discussions with Mauritian Minister Maneesh Gobin, highlighting India's continued support for the socio-economic progress of Global South countries. This initiative aligns with India's broader mission to respond to the developmental goals of its global partners.

(With inputs from agencies.)