India extends over $60 million line of credit to Comoros

India has extended more than $60 million line of credit to Union of Comoros in the field of Energy and Maritime Defence Cooperation. The announcement was made during the first-ever high-level official visit to Comoros by Vice President M. Venkaiah Naidu from 10 – 14 October 2019.

Key Highlights

Both India and East African island nation Comoros have signed some important agreements including cooperation in defence and energy sectors.

India will be extending a Line of Credit of over $41.6 million for setting up of 18 MW Power Plant in Moroni (Comoros capital).

India will also be gifting $1 million worth of Medicines and medical equipments, $1 million for transport vehicles, $20 million for procurement of High-Speed Interceptor Boats and 1000 MT of rice.

India and Comoros

Even as political stability and peaceful transition takes place in Comoros, terrorism has, time and again, threatened to derail this process and piracy, maritime threats, cross border transnational crimes, including cybercrimes, have only added new dimensions to country’s problem. However, as Comoros continues to be a victim of cross border terrorism, India is willing and ready to partner with it, and supplement its efforts to neutralise these threats, particularly in the maritime domain.

To expand bilateral relations in various fields India and Comoros have signed 6 Memorandum of Understanding (MoU) for Cooperation in the fields of-

• Defence
• Health and Medicine
• Arts and Culture
• Tele-education (or e-Vidya Bharati)
• Tele-medicine (or e-Arogya Bharati)
• Exemption of Visa for Diplomatic and Official Passport holders for short visits and protocol on foreign office consultation

Month: Current Affairs - October, 2019