Indian Prime Minister Narendra Modi, at the 5th Eastern Economic Forum, has offered US$ 1 billion line of credit 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.
According to The Indian Express, Modi also said that India wants to help Russia in every possible way, adding that President Putin’s vision will definitely be successful.
Ending his speech, PM Modi launched the ‘Act Far East’ policy to boost India’s engagement with Russia and the Far East, reported The Indian Express.
