India Strengthens Ties with Mauritius
New Line of Credit for Water Pipeline Project
India has taken a significant step in enhancing its relationship with Mauritius by providing a new Line of Credit worth ₹487.60 Crores. This funding is aimed at financing a water pipeline replacement project in Mauritius.
First Rupee-Denominated Line of Credit
This is the first time India has extended a rupee-denominated Line of Credit for project financing to any country under the Indian Development and Economic Assistance Scheme (IDEAS). The project involves replacing approximately 100 km of outdated water pipelines in Mauritius.
Statements from Officials
Randhir Jaiswal, a spokesperson for the Ministry of External Affairs, shared on social media that this initiative is part of strengthening India’s development partnership with the Global South. The Line of Credit will be financed by the State Bank of India at concessional terms.
Formal Offer and Acceptance
External Affairs Minister S Jaishankar made the formal offer to Mauritian counterpart Maneesh Gobin, which has been accepted by the Government of Mauritius. This move reflects India’s commitment to the socio-economic development of countries in the Global South.
Recent Developments
During a recent visit to Mauritius, Jaishankar and Mauritius PM Pravind Kumar Jugnauth inaugurated 12 India-assisted Community Development Projects and a Mediclinic in Grand Bois. They also opened the first overseas JanAushadi Kendra, highlighting the close cooperation between the two nations, especially in health.
Doubts Revealed
Rupee Line of Credit -: A Rupee Line of Credit is a loan given in Indian Rupees to another country to help them with projects. It’s like lending money to a friend to help them build something important.
Mauritius -: Mauritius is a small island country located in the Indian Ocean, near Africa. It’s known for its beautiful beaches and is a friend of India.
Water Pipeline Project -: A water pipeline project involves building or fixing pipes that carry water to people’s homes. This helps ensure that everyone has clean water to use.
Indian Development and Economic Assistance Scheme -: This is a program by India to help other countries with money and resources for development projects. It’s like India helping its friends to grow and improve.
External Affairs Minister -: The External Affairs Minister is a person in the Indian government who manages relationships with other countries. S Jaishankar is the current minister responsible for this.
Global South -: The Global South refers to countries that are generally less wealthy and are located in the southern part of the world. India helps these countries to grow and develop.