India has prolonged its first-ever rupee-denominated line of credit score (LoC) to the Mauritius authorities, amounting to Rs 487.60 crores, to fund a water pipeline substitute undertaking. This marks the primary time India has supplied a rupee-based credit score line for undertaking financing underneath the Indian Improvement and Financial Help Scheme (IDEAS). The undertaking will contain the substitute of roughly 100 kilometers of growing older water pipelines in Mauritius.
The road of credit score, offered by the federal government of India, might be financed by the State Financial institution of India on concessional phrases.Exterior affairs minister, Dr S Jaishankar, formally introduced the provide to Mauritian lawyer basic and minister of agro-industry and meals safety, Maneesh Gobin. The Mauritius authorities has accepted the provide.
This initiative additional strengthens India’s dedication to supporting socio-economic growth within the World South, with India’s growth efforts carefully aligned with the wants and priorities of associate nations.
The undertaking is predicted to enhance the water provide infrastructure in Mauritius, addressing long-standing points associated to out of date pipelines and serving to guarantee dependable entry to wash water for residents.
