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India Extends INR 487.60 Crore Credit to Mauritius for Water Pipeline Project
India has extended an INR 487.60 crore Line of Credit (LoC) to the Government of Mauritius for the financing of a major water pipeline replacement project. This marks a significant milestone, as it is the first-ever ₹-denominated Line of Credit extended by India for project financing under the Indian Development and Economic Assistance Scheme (IDEAS).
India-Mauritius Line of Credit: A Historic First
The Line of Credit, which will be financed by the State Bank of India (SBI) on concessional terms, aims to support the replacement of approximately 100 kilometers of outdated water pipelines in Mauritius. This project will help improve the island nation’s water infrastructure, boosting the efficiency of water distribution and access.
India’s Commitment to Global South Development
India’s support for this project reflects its continued commitment to the socio-economic development of the Global South. This initiative, facilitated by India’s External Affairs Minister Dr. S. Jaishankar, who formally extended the offer to his Mauritian counterpart, Mr. Maneesh Gobin, highlights India’s dedication to addressing the developmental needs of partner countries based on their aspirations.
With the Government of Mauritius officially accepting the credit line, this partnership underscores India’s role as a key player in the region’s sustainable development efforts.
