India Extends Historic Rupee Credit Line To Mauritius: Approx. $60 Million

In a landmark move, the Government of India has extended its first-ever rupee-denominated Line of Credit amounting to INR 487.60 crores (approximately $60 million) to the Government of Mauritius. This funding, aimed at financing a vital water pipeline replacement project, was announced by the Ministry of External Affairs.

Under the Indian Development and Economic Assistance Scheme (IDEAS), this new Line of Credit is representsing a significant step in India’s efforts to support infrastructure development in Mauritius.

The initiative will be financed through concessional terms provided by the State Bank of India.

External Affairs Minister S. Jaishankar formally presented the offer to his Mauritian counterpart, Maneesh Gobin, who has confirmed acceptance from the Mauritian government.

The upcoming project is expected to involve the replacement of nearly 100 kilometers of outdated water pipelines crucial for enhancing the country’s water supply system.

India and Mauritius have historically enjoyed a robust and multifaceted relationship, deeply rooted in cultural, historical, and economic ties.

This relationship dates back to the colonial period, when many Indians migrated to Mauritius as indentured laborers, resulting in a significant Indian diaspora that continues to shape the nation’s cultural landscape.

The two countries celebrate many similar festivals and share linguistic heritage, with a large portion of the Mauritian population having Indian ancestry.

As one of Mauritius’s key trading partners, India has facilitated various agreements to strengthen trade, investment, and economic cooperation.

The Indian government has also provided defense assistance, including training and equipment, along with joint military exercises and maritime collaborations.

Furthermore, India has been involved in numerous developmental initiatives in Mauritius, covering sectors such as infrastructure, healthcare, and education.

The political relationship between the two nations is strong, featuring regular high-level exchanges and collaboration in international forums.

Source: ETV Bharat

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