PM announces $1bn loan for Russia’s Far East development

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During his address at the 5th Eastern Economic Forum in Russia’s Vladivostok on Thursday, Prime Minister Narendra Modi extended a line of credit worth one billion US dollar as part of India’s investment for the Far East region.

“For the development of Far East, India will give a line of credit worth USD 1 billion,” the PM said. He reiterated Indian government’s stand on ‘Act East’ policy. “My government has actively engaged with East Asia as part of its Act East policy. This will also give a new dimension to our economic diplomacy.

The PM further emphasized that India has an age-old relation with the Far East. He was attending the Eastern Economic Forum as a Chief Guest.

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