India Grants Mauritius LOC U.S.$200 Million for Light Rail Transit Project

Source:  allafrica.com

GIS – November 3, 2014: India has agreed to grant a Line of Credit (LOC) of USD 200 million to Mauritius as regards the Light Rail Transit project. An additional amount to the tune of USD 450 million from EXIM Bank of India at a very low interest rate will also be granted.

This announcement was made by the Prime Minister of the Republic of Mauritius, Dr Navinchandra Ramgoolam, GCSK, FRCP, yesterday at Treasury Building in Port Louis, following his tête-à-tête with the Minister of External Affairs and Overseas Indian Affairs of the Republic of India, Smt Sushma Swaraj. The Minister assured that India will stand by her agreement, said the Prime Minister.

The Indian Minister, currently on an official visit to Mauritius, is the Chief Guest on the occasion of activities organised by the Ministry of Arts and Culture and the Aapravasi Ghat Trust Fund for the commemoration of the 180th Anniversary of the Arrival of Indentured Labourers in Mauritius.

Discussions during the tête-à-tête also focused on: the Double Taxation Avoidance Convention, the visa-on-arrival facility, the situation in the region, and Mauritius’ unwavering support for India to have a permanent seat at the United Nations Security Council. More info

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