India to give $100 mn loan each to neighbours

Blackwater

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New Delhi, Jun 13
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
 

Blackwater

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

bhramos

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

Illusive

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

A.V.

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

pmaitra

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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.
 

Virendra

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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..
Thats sounds like a big relief .. :sleep:

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

Let's save this money and develop North East India
Good idea, someone put sense into this government.
 

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