India To Extend $1 Billion Credit Line for Development of Russia’s Far East

Sept. 5, 2019 (EIRNS)—India will extend a $1 billion credit line to the Russian Federation for the development of the Far East, Prime Minister Narendra Modi announced at the plenary meeting of the Eastern Economic Forum today in Vladivostok.

“India will provide a $1 billion credit line. This is an unprecedented case, this is our launching pad in the Far East. The government of India is very active in this region,” he said, TASS reported.

“We concluded 50 agreements worth $5 billion at this forum,” Modi elaborated, stating that the region has great natural resources and potential for active development. India now joins China, South Korea and Japan in the development of Russia’s most promising, yet one of the most scarcely-populated regions in the Russian Federation.