India extendeds $100 million amount of line of credit to Seychelles to allow it to buy defence equipment from India
Published: June 26, 2018
India has extended a $100 million line of credit to Seychelles to allow it to build its defense capabilities and purchase weapons from India. The two nations also signed six Memoranda of Understanding (MoU), including in the area of infrastructure development in Seychelles, cyber security and white-shipping arrangement that would enable the two countries to exchange data regarding identity and movement of non-military commercial vessels. As promised by PM Modi during his visit there in 2015, India also gifted the 2nd Dornier aircraft to Seychelles ahead of its National Day on June 29, 2018. Both the nations agreed to work together on the Assumption Island project based on each other’s interests. It comes with a good note for India because the deal for an Indian military base in the Island was recently declared as ‘dead’ by Seychelles President Danny Faure.