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EEF: PM Modi announces one billion dollar line of credit for development of Far-East Russia

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EEF: PM Modi announces one billion dollar line of credit for development of Far-East Russia

India has made a landmark announcement of a line of credit worth 1 Billion US dollars for the development of Far East region of Russia. Prime Minister while addressing the Plenary Session of 5th Eastern Economic Forum(EEF), in Vladivostok today, said that India has actively engaged East Asia as part of its ‘Act East’ policy. Today’s announcement will prove to be a take off point for ‘Act Far East’.

He added, this will also give a new dimension to our economic diplomacy. He also highlighted his vision of a New India on the ‘mantra’ of ‘sabka saath sabka vikas’. He said, India is aiming to be US$ 5 trillion economy by 2024.

Prime Minister said, Eastern Economic Forum will not only strengthen the efforts for human welfare in Far East, but also the entire mankind. He said, the relation of India & Far East is not new but ages old. India is the 1st country which opened its consulate in Vladivostok. Mr. Modi said, India is a proud and active participant in various activities of the Eastern Economic Forum from top levels of government and industry.

The Hindu

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