India, South Korea enter into an agreement for $ 10 billion To Fund Infrastructure Projects
DSIJ Intelligence / 15 Jun 2017
On June 14, 2017, India and South Korea, entered into an agreement for $ 10 billion for funding infrastructure projects in India.
On June 14, 2017, India and South Korea, entered into an agreement for $ 10 billion for funding infrastructure projects in India.
It was during Prime Minister Narendra Modi’s visit to South Korea in May 2015, that this decision to implement line of concessional credit between India and South Korea had been made.
They also signed an agreement to provide India with $ 1 billion as official development assistance by South Korea for the development of smart city projects in India.
The agreement was signed during the four days official visit of Finance Minister Arun Jaitley to South Korea, during which he also attended the second annual meeting of the Board of Governors of Asian Infrastructure Investment Bank, the India-Korea Financial Dialogue and the 5th Korea-India Finance Ministers' Meeting.
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