India-International Affairs Current Affairs

India, Uganda sign four MoUs in various fields

India and Uganda signed four MoUs in the areas of defence cooperation, visa exemption for official and diplomatic passport holders, cultural exchange programme and material testing laboratory. The agreements were inked following delegation-level talks between Prime Minister Narendra Modi and Ugandan President Yoweri Museveni in Kampala.

Signed Agreements are

  • MoU on Defence Cooperation
  • MoU on Visa exemption for Diplomatic and official passport holders.
  • MoU on Cultural Exchange Programme.
  • MoU on Material Testing Laboratory.

Highlights of bilateral meeting

Both leaders comprehensively reviewed all aspects of bilateral relations. India announced two Lines of Credit worth nearly US $200 million to Uganda in energy, infrastructure, agriculture and dairy sectors.  India announced to continue to play a stable partner in the country’s journey towards development. It  also announced to give vehicles, ambulances and cancer therapy machine to Uganda.

India retired its commitment of training, capacity building and infrastructure creation are core areas of cooperation between both countries. Both countries also agreed to work together in trade, investment and tourism sectors, supporting mutual prosperity through reciprocity.

Significance of Visit

PM Modi visited Uganda on the second leg of his three-African nations tour after concluding his Rwanda visit. After concluding his Uganda visit, he will visit South Africa to attend 10th BRICS Summit at Johannesburg. It was first visit by Indian Prime Minister to Uganad in over 20 years. PM Modi also delivered keynote address at Ugandan Parliament, making him first Indian PM to do so.

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India signs Agreement to provide $318 million Line of Credit to Sri Lanka

India has signed an agreement with Sri Lanka to provide USD 318 million as line of credit for developing Sri Lanka’s railway sector. The agreement was signed between Sri Lanka’s Ministry of Finance and Mass media, and Managing Director of India’s Export Import Bank in Colombo.

Background

In 2015, during the visit of Prime Minister Narendra Modi to Sri Lanka he had declared a line of credit of USD 318 million for the development of Sri Lanka’s railway sector. That visit of Prime Minister Modi was the first standalone bilateral visit by an Indian prime minister since 1987.

The line of credit comes at the backdrop of increasing Chinese presence in the Indian Ocean nation. China has made significant investments in Sri Lanka mainly in developing ports. Though China claims the investments are part of its Belt and Road Initiative that aims to link it with Europe and Africa via the Indian Ocean, the ports have the potential to be used as a base for its naval operations.

At present, Indian development assistance to Sri Lanka primarily focuses on improvement of infrastructure, livelihood development, education, healthcare, and capacity building. India continues to be a major developmental partner for Sri Lanka for nearly 40 years.

So far India has provided four lines of credit to Sri Lanka for developing its railway sector that totally amounted to USD 966 million. Sri Lanka has made used of these credit facilities to improve the southern and northern railway lines as well as for procuring the rolling stocks for the Sri Lanka Railways.

In addition, over the years Indian foreign direct investment in Sri Lanka has also increased rapidly.

 

 

 

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