India to give $100 mn loan each to neighbours

Discussion in 'Foreign Relations' started by Blackwater, Jun 14, 2011.

  1. Blackwater

    Blackwater Veteran Member Veteran Member

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    India today commited $100 million soft loan for each of its neighbouring countries to help them in developing infrastructure projects such as roads, drinking water and power.

    Addressing a meeting of the South Asia Free Trade Area Ministerial Council at Male (Maldives), Commerce and Industry Minister Anand Sharma said that India has evolved a new 'Buyer Credit Cover' for the SAARC region.

    Essentially, this would be a development loan. "We would be happy to extend such development loan through our Exim bank, interest rates close to LIBOR (London Inter Bank Offer Rate)," he said.

    Sharma said that the countries in South Asia need to rapidly break down barriers in key sectors like textiles, pharmaceuticals, infrastructure, electronic goods, automobiles and agriculture.

    He said that foreign direct investment (FDI) and trade within the SAARC region has been much below the potential.— PTI


    The Tribune, Chandigarh, India - Business
     
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  3. Blackwater

    Blackwater Veteran Member Veteran Member

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    if u give 100 million to pak landis. it will be used against India till single penny
     
  4. Virendra

    Virendra Moderator Moderator

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    This includes Pakistan? can't believe it :( ...
     
  5. bhramos

    bhramos Elite Member Elite Member

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    May be they would never accept, they eat grass, but don't accept aid from us,
    anyway to other countries it would benefit, by accepting aid they are accepting that India is a Super Power..
     
  6. Illusive

    Illusive Senior Member Senior Member

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    Super Power????? its a loan not aid, they have to pay it back with interest.
     
  7. JBH22

    JBH22 Senior Member Senior Member

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    Let's save this money and develop North East India
     
    A.V. and mayfair like this.
  8. mayfair

    mayfair Elite Member Elite Member

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    Hear hear. We have enough needy folks at home. Charity after all begins at home doesn't it?
     
  9. A.V.

    A.V. New Member

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    and what does india get in return ? terrorist camps , hijacks , war posture , aiding indian enemies and the list goes on
     
  10. pmaitra

    pmaitra Moderator Moderator

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    So India is going to give more loans to Pakistan? Pakistan already owes money to India given as loan during partition. Woah, the govt. is indeed coming up with some 'nice' ideas.
     
  11. Virendra

    Virendra Moderator Moderator

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    Thats sounds like a big relief .. :sleep:

    Yeah they'd pay back by asking for a waiver, not long back they asked the entire world community like:
    "To whomsoever it may concern. Whatever money we've taken from you (aid/loan), waive it as we don't have anything to pay back".
    Thats what they'll give you in return.

    Good idea, someone put sense into this government.
     

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