India to give $1 billion line of credit for development of Russia’s Far East: PM Modi at EEFhttps://indianexpress.com/article/india/narendra-modi-prime-minister-russia-far-east-eastern-economic-forum-summit-5968693/

India to give $1 billion line of credit for development of Russia’s Far East: PM Modi at EEF

PM Modi also unveiled the "Act Far East" policy to boost India's engagement with Russia's Far East region.

PM Modi in Russia, eastern economic forum, EEF Russia, india news, Indian Express
PM Modi at the Plenary Session. (ANI)

Prime Minister Narendra Modi, in his Plenary Session at the 5th Eastern Economic Forum, said India will give a line of credit worth USD 1 billion for the development of the Far East.

“The relation of India and the Far East is not new but ages old. India is the first country which opened its consulate in Vladivostok. Even during Soviet Russia when there were restrictions on other foreigners, Vladivostok was open for Indians,” PM Modi said.

“For the development of Far East, India will give a line of credit worth USD 1 Billion. My government has actively engaged in East Asia as part of its ‘Act East’ policy. This will also give a new dimension to our economic diplomacy,” he added.

Praising Russian President Vladimir Putin for his efforts, PM Modi said, “By transforming frozen land to a flowerbed, Vladimir Putin has paved way for a better future.”

Advertising

Modi also said that India wants to help Russia in every possible way, adding that President Putin’s vision will definitely be successful.

“I believe that our brainstorming today at this forum will not only strengthen the efforts for human welfare in Far East, but also the entire mankind,” PM Modi said.

He added that both India and Russia have undertaken several ‘ambitious’ targets to “scale heights together in space and map the depth of the sea”.

Speaking on Mahatma Gandhi’s 150th birth anniversary celebrations, PM Modi said, “This year, the whole world will be celebrating Mahatma Gandhi’s 150th birth anniversary. Come, let’s be a part of each other’s success story and work together towards our growth.”

Ending his speech, PM Modi launched the ‘Act Far East’ policy to boost India’s engagement with Russia and the Far East.