India's $144 million Line of Credit to Liberia for power project

NEW DELHI: India today extended $144 million Line of Credit to Liberia to fund a power transmission and distribution project and inked a key energy pact with the West African country.


The pacts were signed after a meeting between Prime Minister Manmohan Singh and visiting Liberian President Ellen Johnson Sirleaf, the first African women President, during which they exchanged views on international, regional and bilateral issues, including the India-Africa Forum Summit.

"We have decided to enhance our cooperation in a number of areas, including agricultural research, health, small and medium enterprises, science and technology, education and skill development...

"I requested President Sirleaf to facilitate Indian investment in agriculture, infrastructure, hydrocarbon, mining and manufacturing in line with Liberia's national development goals and policies," Singh said at a joint press event with the visiting dignitary.

Apart from Line of Credit and energy pacts, the two countries also signed agreement to set up a Joint Commission and an MoU between their foreign services institutes.

Singh also said the two countries have agreed to work together for the promotion of international peace and stability, particularly on the African continent, and to make common cause to ensure that global governance is just and meets the aspirations of the developing world.

There was also exchange of views on regional and global issues, including the urgent need for reform of the United Nations Security Council, Singh said, adding India deeply appreciates Liberia's support for its candidature as a permanent member of a reformed and expanded Security Council.