India extends one billion dollar Line of Credit to Central Asia for development projects

The Ministers of the Central Asian countries during the virtual meet welcomed the extension of one billion dollars by India for priority development projects in fields such as energy, connectivity, education, healthcare, IT, agriculture, connectivity, etc.

Oct 29, 2020 11:31 IST

India on October 28, 2020, extended an additional Line of Credit of one billion dollars for the development projects in Central Asian countries. It aims at widening the connectivity and energy partnership among other sectors with the region.

The decision was announced at the meeting of India-Central Asia Dialogue held virtually on October 28 with the participation of Afghanistan. During the meeting, the two sides also discussed close cooperation in security and political matters.

All the foreign Ministers during the virtual meet also shared similar sentiments on combating terrorism by destroying infrastructure, safe havens, and funding channels. They also highlighted the need for every country to ensure that their territory is not being used to launch terrorist attacks on other countries.

Key Highlights:

The second meeting of the India-Central Asia Dialogue was held virtually under the Chairmanship of External Affairs Minister Dr. S Jaishankar.

The meeting was attended by the Foreign Ministers of Tajikistan, Kazakhstan, Uzbekistan, and Turkmenistan. Kyrgyz Republic’s First Deputy Foreign Minister, also joined the virtual dialogue. 

During the virtual dialogue, the ministers appreciated India’s efforts of modernizing the infrastructure of Chabahar Port in Iran which will become an important link between transport and trade communication between the markets of South and Central Asia.

There was also an emphasis on promoting development and connectivity partnership between Central Asia and India.

All the Ministers during the joint dialogue also called for the settlement of Afghan conflict on the basis of Afghan-owned, Afghan-led, and Afghan-controlled peace processes.

Assistance to Central Asia: Developing relations between India and Central Asia region

The Ministers of the Central Asian countries during the virtual meet welcomed the extension of one billion dollars by India for priority development projects in fields such as energy, connectivity, education, healthcare, IT, agriculture, connectivity, etc.

The ministers also welcomed India’s offer of providing grant assistance for the implementation of HICDP- High Impact Community Development Projects to promote socio-economic development in the central Asian countries.

The significance of concerted efforts to further expand economic and trade cooperation as well as promoting direct ties between businesses of India and Central Asian countries was also emphasized. Under this context, the launch of the India-Central Asia Business Council was also welcomed.

During the meet, there was a discussion to continue close cooperation between the Sanitary and Epidemiological Services of Central Asia and India in the fight against the pandemic.

India-Central Asia Relations:

The Foreign Minister S Jaishankar during his address highlighted that India and Central Asia share cultural and historical linkages and that India has always considered Central Asia an extended neighborhood.

Both regions also share common geography which promotes the exchange of ideas, people, and goods in both directions. Also, as developing countries both the region also share a common perspective on challenges and opportunities for the development and prosperity of our people.

There is also a shared commonality of views on various international and regional issues as both regions face common challenges of drug trafficking, terrorism, extremism, and various other issues. All these commonalities make both the regions natural partners in the developmental journey.

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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