India extends USD 100 million line of credit to Mali

New Delhi, Jan 12 (PTI) India has announced a USD 100 million line of credit to Mali to set up power transmission lines connecting key cities in the southern part of the western African nation. An agreement on extending the line of credit was signed Wednesday after talks between Prime Minister Manmohan Singh and Mali's President Amadou Toumani Toure when they pitched for enhancing the partnership between the two countries. Toure is now on a state visit in India. During the talks, Singh thanked Toure for extending its support to India's candidature for permanent membership in an expanded United Nations Security Council. The line of credit will be used to set up power transmission lines to connect Mali's capital Bamako with Sikasso via Bougouni in the southern part of the western African nation. Besides the line of credit, the two sides also signed a Memorandum of Understanding on co-operation in the field of geology and mineral resources. A joint statement issued after the talks said both sides agreed to strengthen cooperation in areas like economy, trade and investment, finance, human resource development, culture, agriculture and fisheries. The two sides also agreed to explore avenues for cooperation in potential areas such as mining, hydrocarbons, agriculture, food processing, ICT, science and technology and public health. Addressing a joint meeting of Indian industry chambers CII, ASSOCHAM and FICII, Toure told Indian investors that "I assure you about security of investment". PTI