India offers $7 billion as credit and 68K CR as grants and provides assistance to the Global South
Chennai: India has provided over $7 billion in financing over the past five years, which is credit and preferential financing as a grant to overseas projects, with over Rs 43,000 crore. As aid, Rs 23.96 crore was also provided to the state.
The government provides development assistance to the Global South through Lines of Credit (LOC), Concessional Financial Programs (CFS) and Bursary Programs. The government informed Rajya Sabha that the projects cover a wide range of sectors including water, electricity, railways, roads, agriculture, education and health care.
Of these, the government provided a grant of Rs 43,026 crore to 38 projects. Bhutan received the highest grant of Rs 328,77 crore for seven projects. Other countries that have received project grants include Afghanistan, Bangladesh, Maldives, Mauritius, Myanmar, Nepal and Sri Lanka.
In total, $589.4 million was provided to overseas projects. About US$169.2 million was provided to Mongolia, and the funds for the construction of crude oil refineries were the largest. The infrastructure development of the power evacuation facility at the Rooppur nuclear power plant in Bangladesh has received US$116 million.
Under the “Promotional Finance Plan”, Bangladesh’s Maitree Super Thermal Power Sterm has received $160 million.
In addition, the government has provided assistance to Bangladesh, Bhutan, Nepal, Sri Lanka, Maldives, Myanmar, Myanmar, Afghanistan, Mongolia, Mongolia, Mauritius and some African countries. Of the 253,96 crore rupees provided to these countries in five years, Rs 37,84 crore has been provided in fiscal 24. In FY20, the total aid was Rs 6884 crore, Rs 5199 crore in FY21, Rs 4576 crore in FY22 and Rs 4953 crore in FY23. Of these, in the past five years, Rs 9595 crore has been provided to Bhutan.
