India offers $15 mn LoC to El Salvador
India on Friday offered to extend a line of credit (LoC) of $15 million for developing economic cooperation with El Salvador.
By PTI |
NEW DELHI: India on Friday offered to extend a line of credit (LoC) of $15 million for developing economic cooperation with El Salvador.
The two countries also reached an agreement in a range of common areas of cooperation at a meeting between Minister of State for External Affairs Anand Sharma with the visiting El Salvador Minister of External Relations Francisco Esteban Lainez.
A joint communique issued at the end of the meeting said India agreed to consider further credit amounts after initial LoC is fully utilised. Reiterating its interest in continuing and expanding its development partnership with El Salvador as a part of its commitment to "South-South cooperation", India also said it would set up an Information Technology Training Centre in the Central American nation.
India also agreed to increase the number of ITEC (Indian Technical and Economic Cooperation) training scholarships to EL Salvador nationals from existing ten to fifteen. "El Salvador is a country located strategically in the Central American region, integrated with SICA, and has now the means and the policy to play an important role," Sharma said.
An MoU with the SICA (Central American Integration System) countries has already been signed and the priority areas of cooperation would be agriculture, IT, education, tourism and culture, Sharma said.
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In an interaction with Indian industry leaders, Lainez talked about production of ethanol as a source of energy derived from sugar cane and other bio-fuel production alternatives. Recognising India's "enormous advances" in the field of IT and agriculture, the Salvadoran foreign minister said his trip has "reaffirmed the great friendship" that existed in two countries. Lainez said from the India side too there was a "reaffirmation of the support" it would be giving to El Salvador in various fields of development. Lainez, who was accompanied by a high-level business delegation, including Presidential Commissioner of Agriculture and Cattle Raising, Carmen Elena de Sol, said their experience has enlightened them about the culture, ancestors and "about everything that has made the India that is now a world player."
India took note of El Salvador's initiative on international cooperation for the middle-income countries and developing mechanisms to mobilise overseas development assistance (ODA) for them. El Salvador shared India's view on urgent need for United Nations reforms.
Lainez said his country supports India's bid for United Nations Security Council membership. The two countries also agreed to start exchanges in films and visual arts, cultural troupes, scholars, exhibitions and film festivals.
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