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
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