New Delhi has announced a concessional line of credit worth ₹1,250 crore to Seychelles, extended as part of Prime Minister Narendra Modi’s state visit to the island nation.
The credit line is intended to support Seychelles’ development priorities and underlines India’s continued commitment to the growth of Indian Ocean island states. Concessional financing of this kind is a long-standing instrument of India’s development partnership with smaller nations.
The announcement complemented a wider set of agreements and gestures during the visit, reflecting New Delhi’s strategy of pairing diplomatic engagement with tangible economic assistance.
By offering affordable financing for development projects, India aims to strengthen its standing as a reliable partner for island states across the Indian Ocean region.
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Sources:
https://www.newkerala.com/news/a/india-reaffirms-deepening-close-partnership-commitment-support-seychelles-943.htm