A new Line of Credit for 487.60 crore rupees has been extended by India to the government of Mauritius.
The purpose of this line of credit is to finance the replacement of a water pipeline.
This is the first time that India has ever offered a Line of Credit denominated in rupees to finance a project in any nation through the Indian Development and Economic Assistance Scheme (IDEAS).
The project aims to replace Mauritius’s around 100 km of obsolete water pipeline.
State Bank of India will finance the Government of India-supported Line of Credit at concessional terms.
