India offers $100 mn line of credit to Benin during Prez Kovind's visit

Cotonou (Benin): India offered a USD 100 million line of credit to Benin for its development projects on Monday as President Ram Nath Kovind held wide ranging discussions with his Beninese counterpart Patrice Talon on issues of trade, defence and security cooperation.

Kovind, who arrived here on Sunday on the first leg of his three-nation tour, is the first Indian head of state to visit the West African nation. He was accorded a ceremonial welcome at the Presidential Palace upon his arrival.

"I held wide ranging talks with President Talon. We both committed ourselves to take our relations to a higher level, with special focus on economic partnership," President Kovind said after the delegation-level talks. The two sides signed four agreements/MoUs on Cultural Exchange, Cooperation in Export Credit and Investment Insurance, e-VBAB network project, visa exemption for Indian diplomatic/official passports. "We offered a fresh line of credit of USD 100 million to finance development projects in Benin," Kovind said.

He said the two sides also discussed defence and security cooperation. The two countries "stand together in the global fight against terrorism and piracy," he said, adding that India offered further training assistance to Benin to expand its anti-piracy capacity.

They also agreed to work together to combat climate change through the International Solar Alliance. President Kovind said the two sides took stock of the ongoing projects being financed by Indian assistance.