India offers $40 m credit to Mozambique, signs pact for rural electrification | world | Hindustan Times
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India offers $40 m credit to Mozambique, signs pact for rural electrification

world Updated: Jul 06, 2010 17:25 IST
Manish Tiwari
Manish Tiwari
Hindustan Times
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India on Monday offered assistance worth $40 million to Mozambique for setting up planning and training centres for the coal sector.

External Affairs Minister SM Krishna, who held discussions with Mozambique President Armando Guebuza and Foreign Minister Oldemiro Baloi in Maputo, said the two countries examined ways of strengthening their bilateral ties and expressed satisfaction at the level of cooperation.

"India's GDP has been growing at 8 per cent and the energy sector becomes critical. There is a need for greater cooperation in the energy sector," he added.

After Krishna's meeting with Baloi, India signed an agreement with Mozambique for giving a line of credit of $25 million for its rural electrification. Since 2003, India has provided $115 million to Mozambique.

Krishna further announced a grant of $5 million to support Mozambique's health and education sector.

The minister said: "We did discuss the potential of trade and development. The present level of trade doesn't reflect the potential, and thus we would like to have greater strategic partnerships with Mozambique."

Krishna said that on behalf of Prime Minister Manmohan Singh, he invited Guebuza to visit India, and the Mozambique President accepted it.

"We will decide on the dates in due course," he added.

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