India extends $200 mn credit line to Rwanda
India extends $200 mn credit line to Rwanda

India extends $200 mn credit line to Rwanda

ANI | Updated: Jul 24, 2018 01:29 IST

Kigali [Rwanda], Jul 24 (ANI): India on Monday extended two lines of credit to Rwanda to the tune of USD 200 million.
One line of credit worth USD 100 million was extended for the development of industrial parks and Kigali Special Economic Zone (SEZ), while the other was extended for agriculture worth USD 100 million.
Earlier, Prime Minister Narendra Modi said that India will open a new High Commission in Rwanda in the near future in an endeavour to strengthen bilateral relations between the two countries.
Addressing a joint statement here along with Rwandan President Paul Kagame, Prime Minister Modi said, "We are going to open a High Commission in Rwanda soon. This will not only establish communication between our respective governments but also enable facilities for consular, passport, visa and other services."
He added that the relationship between New Delhi and Kigali have stood the test of time, adding that it was a matter of honour that India stood with Rwanda in their journey of achieving economic development.
Stressing on his historic visit to the landlocked East African country, Prime Minister Modi noted, "It's the first time an Indian Prime Minister has visited Rwanda. The Rwandan President (Kagame) himself came to receive me at the airport. This special gesture is a sign of respect for entire India."
The Prime Minister further said that manufacturing, hospitality, and tourism sectors were key fields where India and Rwanda could bolster their cooperation, respectively.
Prime Minister Modi went on to say that India was keen to improve business and investment ties with Rwanda.
On the other hand, President Kagame said, "This visit, the first by an Indian Prime Minister represents a milestone between the long standing friendship and cooperation between Rwanda and India. We appreciate India's support to Rwanda's developmental agenda. The agreements signed today will help to further deepen cooperation between the two countries."
He added that both India and Rwanda shared commitment to peace and security as major troop contributors to the United Nations (UN) peacekeping missions.
Before the joint statement, Prime Minister Modi and President Kagame witnessed the signing of agreements between the two countries.
Both nations signed eight agreements.
Earlier on Monday evening, the Prime Minister arrived in Rwanda, marking the first visit by an Indian Prime Minister to the African nation.
Prime Minister Modi was received by President Kagame and was given a ceremonial reception upon his arrival.
Later, the two leaders held one-on-one talks and delegation-level talks, respectively.
Pictures from the meeting were posted on Twitter by Ministry of External Affairs (MEA) spokesperson, Raveesh Kumar.
"Getting down to business immediately upon arrival! PM @narendramodi & Rwandan President @PaulKagame follow a one-on-one meeting with delegation level talks to strengthen partnership in trade & investment, capacity building, development partnership & people to people ties," Kumar tweeted.

Prime Minister Modi will next travel to Uganda, where he will undertake engagements on July 24 and 25. (ANI)