Mauritius secures Rs 20.5 billion credit line from India for development projects
via Le Mauricien3 min read
Mauritian Prime Minister Navin Ramgoolam announced a Rs 20.5 billion credit line from India to finance development and infrastructure projects in Mauritius. This announcement followed a bilateral meeting with Indian Prime Minister Narendra Modi during the 50th anniversary of Seychelles' independence. Ramgoolam stated that this financial facility fulfills commitments made during his recent official visit to India, emphasizing that the funds will accelerate the implementation of structural projects and strengthen the country's infrastructure. He also highlighted the strong historical ties between Mauritius and Seychelles, dating back to Sir Seewoosagur Ramgoolam's era. Ramgoolam's meeting with Modi reaffirmed strategic cooperation between Mauritius and India, a key partner in infrastructure, economic development, and maritime security. Seychelles celebrated its 50th independence anniversary with a solemn ceremony in Victoria, attended by several heads of state, government, and international officials, including Ramgoolam. Indian Prime Minister Narendra Modi's three-day state visit to Seychelles also coincided with the 50th anniversary of diplomatic relations between Victoria and New Delhi. Modi is scheduled to meet with Seychellois President Patrick Herminie to enhance cooperation in strategic areas, including development, maritime security, infrastructure, and economic cooperation. He will also present donations and inaugurate national interest projects.
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Must ReadIndia has granted a credit line of 20.5 billion rupees to Mauritius to finance infrastructure projects. This announcement was made by Prime Minister Navin Ramgoolam after his meeting with Indian Prime Minister Narendra Modi on Sunday in Seychelles, on the sidelines of the 50th anniversary celebrations of Seychelles' independence. The head of government specified that this is a low-interest financing that will support several development projects. He also thanked the Indian government for this support, which he considers a new testament to the close cooperation between the two countries. The two leaders also reviewed several bilateral cooperation issues, particularly in the areas of training, energy, defense, and cybersecurity. This meeting was the fourth between the two heads of government in approximately eighteen months.