The Hindu : International / India & World : India may extend $500 million credit line to Sudan

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Thursday, Jun 09, 2005

International

International - India & World

India may extend $500 million credit line to Sudan

Special Correspondent

NEW DELHI: India is likely to extend a $500-million credit line to Sudan in view of the emerging opportunities for domestic businessmen, according to Sudan's Foreign Minister Mustafa Osman Ismail. He said Prime Minister Manmohan Singh gave an indication to this effect during a meeting with him on Tuesday.

Addressing members of the Associated Chambers of Commerce and Industry before concluding his two-day visit, Dr. Ismail said Sudan's Finance Minister would soon visit India to concretise the deal.

Investors invited

Dr. Ismail called upon Indian businessmen to liberally invest in Sudan in sectors such as roads, ports, communication, oil and gas and financial services. Any country, including India, wanting to invest in Sudan could bring in its own managerial and skilled labour.

Sudan was building three seaports to ensure the smooth movement of petroleum products as oil and gas reserves were increasingly becoming a large source of foreign exchange. He said his country would like to benefit from Indian experience in vital areas such as information technology, pharmaceuticals, agro-based and small-scale enterprises, infrastructure, food, leather, textile, animal resources, science and technology and human resource development.

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