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Home / India News / India extends $1 bn credit line to Central Asian countries for priority projects

India extends $1 bn credit line to Central Asian countries for priority projects

Besides the $1-billion line of credit, India offered grant assistance for high impact community development projects to boost socio-economic development in Central Asia.

india Updated: Oct 29, 2020, 07:20 IST
Rezaul H Laskar
Rezaul H Laskar
Hindustan
External Affairs Minister Dr. S Jaishankar attends the 2nd India-Central Asia Dialogue virtually via video conferencing in New Delhi on Wednesday.
External Affairs Minister Dr. S Jaishankar attends the 2nd India-Central Asia Dialogue virtually via video conferencing in New Delhi on Wednesday.(ANI Photo )

India on Wednesday extended a $1-billion line of credit to Central Asian countries for priority projects in connectivity, energy, IT and health care, with the move being perceived as part of New Delhi’s efforts to boost its role as a transparent development partner.

The line of credit was welcomed by ministers of Kazakhstan, Tajikistan, Kyrgyz Republic, Turkmenistan and Uzbekistan during the second meeting of the India-Central Asia Dialogue held via video conference under the chairmanship of external affairs minister S Jaishankar. Acting Afghan foreign minister Haneef Atmar joined the meeting as a special invitee.

The meeting discussed cooperation in political and security matters, and all the countries called for settling the Afghan conflict on the principle of an “Afghan-led, Afghan-owned and Afghan-controlled peace process”, according to a joint statement. The countries also condemned terrorism and reaffirmed their determination to destroy terrorist safe havens, networks, and funding channels.

In a tacit reference to Pakistan, the joint statement said: “They also underlined the need for every country to ensure that its territory is not used to launch terrorist attacks against other countries.”

Jaishankar told the meeting: “India and Central Asia share ancient historical and cultural linkages. We consider Central Asia as India’s ‘extended neighbourhood’.” He added, “We face common challenges of terrorism, extremism, drug trafficking... All these commonalities make us a natural partner in our developmental journey.”

Besides the $1-billion line of credit, India offered grant assistance for high impact community development projects to boost socio-economic development in Central Asia.

The ministers emphasised the importance of connectivity in increasing trade and commerce between India and Central Asia, and appreciated New Delhi’s efforts to modernise Chabahar port in Iran as an important link in trade and transport between markets in Central and South Asia, the joint statement said. The ministers agreed to promote joint initiatives to create regional and international transport corridors.

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