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India proposed $1 billion credit for connectivity with ASEAN: Nitin Gadkari

He was addressing the ASEAN-India Connectivity Summit jointly organised by CII and ASEAN India Centre

Press Trust of India  |  New Delhi 

Nitin Gadkari
Nitin Gadkari. Photo: PTI

has proposed USD 1 billion line of credit to promote sea, air and road connectivity projects with ASEAN, Union Minister said today. Apart from this, has set up a project development fund of USD 77 million to develop manufacturing hubs in Cambodia, Laos, Myanmar and Vietnam, he said. "The maritime transport cooperation agreement is being negotiated...

An Asian civil aviation task force has been established to see optimisation of air connectivity. "has proposed to commit a line of credit of USD 1 billion to promote projects that support physical and connectivity," Gadkari said. He was addressing the ASEAN-Connectivity Summit jointly organised by and Centre. The minister said and have also agreed to establish a maritime transport working group among India, Myanmar, Thailand, Cambodia and Vietnam to examine the feasibility of shipping networks. Asserting that connectivity is the pathway to shared prosperity, he said better connectivity is the core factor for strengthening ASEAN-relations. "Connectivity projects such as the India-Myanmar-Thailand Trilateral Highway (TH), extension of TH to Cambodia, Laos and Vietnam Kaladan Multimodal Transit Transport Project are being planned and at different stages of implementation," he said. is already working with Myanmar in the areas of border area development, capacity building, infrastructure development, connectivity projects and institutional development. Stressing on augmentation of international connectivity, the minister said for Bharat Mala project, around 2,000 km with an outlay of Rs 25,000 crore are earmarked to connect India's major highway corridors to international trade points. This will facilitate export/import trade with Nepal, Bhutan, Bangladesh and Myanmar. About BBIN (Bangladesh, Bhutan, India, Nepal) Motor Vehicles Agreement, Gadkari said action has been initiated for implementation of BBIN MVA by Bangladesh, and Nepal.

First Published: Mon, December 11 2017. 16:52 IST