India offers $500 mn credit to Myanmar
29 May 2012 3:15 AM GMT
India has announced that it will provide a $500 million line of credit to Myanmar, as the two countries signed agreements on a range of sectors, including air services, beginning a ‘new journey’ of bilateral cooperation.
On the first visit by an Indian prime minister to Myanmar in 25 years, Manmohan Singh held ‘broad-ranging’ discussions with the Myanmar president Thein Sein on a road map for bilateral cooperation and said that New Delhi was committed to Myanmar’s economic development.
A memorandum of understanding for India’s 500 million dollar credit line was signed between the Export-Import Bank of India and the Myanmar Foreign Trade Bank. The line of credit was agreed upon in October last year when the Myanmar president had visited New Delhi.
India and Myanmar also signed an air services agreement and a memorandum of understanding on establishment of a joint trade and investment forum and setting up of border trade centres across the border of India and Myanmar.
On the first visit by an Indian prime minister to Myanmar in 25 years, Manmohan Singh held ‘broad-ranging’ discussions with the Myanmar president Thein Sein on a road map for bilateral cooperation and said that New Delhi was committed to Myanmar’s economic development.
A memorandum of understanding for India’s 500 million dollar credit line was signed between the Export-Import Bank of India and the Myanmar Foreign Trade Bank. The line of credit was agreed upon in October last year when the Myanmar president had visited New Delhi.
India and Myanmar also signed an air services agreement and a memorandum of understanding on establishment of a joint trade and investment forum and setting up of border trade centres across the border of India and Myanmar.
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