India's Strategic International Lending: USD 3.73 Billion Offered
India has offered USD 3.73 billion in loans to six partner countries from January 2022 to January 2025, focusing on development via Lines of Credit and Concessional Financing. External assistance sourced from multilateral and bilateral avenues, including loans and grants from various international institutions and countries.
- Country:
- India
In a strategic move to fortify international relations, India has extended USD 3.73 billion in loans to six partner countries. This initiative, announced in Parliament, has been facilitated under the Lines of Credit and Concessional Financing Scheme, stretching from January 2022 to January 2025.
The Minister of State for External Affairs, Kirti Vardhan Singh, detailed the financial diplomacy while responding to a query in the Rajya Sabha. The funds, channeled through a lending bank, underline India's commitment to fostering development in the region.
India also comprehensively benefits from external assistance, receiving over Rs 2,71,243 crore from April 2022 to March 2025. This influx stems from a diversity of multilateral and bilateral sources, including notable institutions like the World Bank Group and key nations such as Japan and Germany.
ALSO READ
-
Japanese Lawmakers Visit India to See Worker Protection and Skills Projects in Action
-
Indian Unions Push for Fair Recruitment and Rights for Care Workers in Germany
-
Cleaner Kitchens, Polluted Skies: Hidden Health Cost of India’s Electricity Boom
-
Japan-Backed ILO Projects Help 23,000 Workers Gain Rights and Fight Child Labour
-
India's Delicate Balancing Act: Navigating Energy Security Amid Middle Eastern Tensions
Google News