India announces $150 million line of credit for Pacific Island nations

In addition, a concessional Line of Credit of $150 million, which can be availed by the PSIDS for undertaking solar, renewable energy and climate related projects based on each country’s requirement, was announced.

PM Modi announces $150 mn line of credit to group of Pacific island nations

PM Modi emphasised that India and the PSIDS have shared values and a shared future. (Source: Twitter/MEAIndia)

Four years after India first reached out to the Pacific Small Island Developing States (PSIDS) in leaders-level summit, New Delhi took another step towards re-engaging with these countries in the forefront of battle against climate change, as well as the Indo-Pacific faultiness between the US and China.

Prime Minister Narendra Modi on Tuesday announced allocation of $12 million grant ($1 million to each PSIDS) towards implementation of high-impact developmental project in the area of their choice.

In addition, a concessional Line of Credit of $150 million, which can be availed by the PSIDS for undertaking solar, renewable energy and climate related projects based on each country’s requirement, was announced.

Addressing leaders of these countries on Tuesday, Modi said, “It is a matter of happiness that India has a friendly relations with all of them. We have a stake in each other’s development; we will increase the partnership with this summit.”

Reaffirming his commitment for providing development assistance for capacity building, Modi proposed to depute technical experts to provide training and offered to organise specialised courses also under ITEC programme in priority areas identified by partner countries, including “training of diplomats” from Pacific Island nations at the Foreign Service Institute.

In the health sector, the Prime Minister offered to organise a Jaipur Foot Artificial Limb Fitment Camp in a Pacific regional hub under ‘India for Humanity’ programme.

The meeting took place on the sidelines of the 74th UNGA and was attended by heads of delegations of Fiji, Republic of Kiribati, Republic of Marshall Islands, Federated States of Micronesia, Republic of Nauru, Republic of Palau, Independent State of Papua New Guinea, The Independent State of Samoa, Solomon Islands, Kingdom of Tonga, Tuvalu and Republic of Vanuatu.

Shubhajit Roy

Shubhajit Roy, Diplomatic Editor at The Indian Express, has been a journalist for more than 25 years now. Roy joined The Indian Express in October 2003 and has been reporting on foreign affairs for more than 17 years now. Based in Delhi, he has also led the National government and political bureau at The Indian Express in Delhi — a team of reporters who cover the national government and politics for the newspaper. He has got the Ramnath Goenka Journalism award for Excellence in Journalism ‘2016. He got this award for his coverage of the Holey Bakery attack in Dhaka and its aftermath. He also got the IIMCAA Award for the Journalist of the Year, 2022, (Jury’s special mention) for his coverage of the fall of Kabul in August 2021 — he was one of the few Indian journalists in Kabul and the only mainstream newspaper to have covered the Taliban’s capture of power in mid-August, 2021. ... Read More

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