India extends $100 mn line of credit to Mauritius for defence equipment
India on Monday extended a USD 100 million Line of Credit to Mauritius to facilitate the procurement of Indian defence equipment, as the two countries signed a landmark Comprehensive Economic Cooperation Partnership Agreement following talks between External Affairs Minister S Jaishankar and Mauritius Prime Minister Pravind Jugnauth.
Jaishankar, who arrived in India’s strategically key maritime neighbour in the Indian Ocean region on Sunday from the Maldives on the last leg of his two-nation tour, reviewed comprehensive and important bilateral relationship during his meeting with the Indian-origin prime minister.
“Our discussions, I believe, were very productive and forward looking, and we really reviewed all aspects of the relationship as well as status of implementation of various projects,” Jaishankar said while jointly addressing the media with Prime Minister Jugnauth.
“A special USD 100 million defence Line of Credit has also been signed today which will enable the procurement of defence assets from India as per the needs of your Government. These initiatives underline once again that the Security of Mauritius is the security of India; in the prosperity of Mauritius is our prosperity,” he said, reaffirming India’s SAGAR policy.
Mauritius is one of India’s key maritime neighbours in the Indian Ocean Region and occupies a special place in the Prime Minister’s vision of ‘SAGAR’ (Security and Growth for All in the Region).
The two sides also signed an agreement which will provide for a Dornier aircraft and an Advanced Light Helicopter Dhruv on lease to Mauritius on gratis basis for two years, helping shore up its capabilities to patrol and monitor its extensive maritime domain more effectively.
Describing it as “a special day in our special relationship”, Jaishankar said India is privileged to have entered into a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius.