To Help Vietnam Counter China, India Extends $500 Million Credit Line For Defence

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2:00 pm 3 Sep, 2016


Prime Miniter Narendra Modi on September 3 said that India would give Vietnam a line of credit of $500 million so as to help them upgrade their defences.

PM Modi, who is on a one-day trip to Vietnam said:

 

modi

Vietnam continues to be at odds with neighbor China over the South China Sea issue and is in the midst of a major military buildup.

 

Their military buildup will act as a deterrent to China who is growing more assertive in staking its claims in the South China Sea.

Besides the line of credit, there are also 11 other agreements that India and Vietnam signed in Hanoi during Modi’s short visit.


 

Majority of these agreements are related to deepening the two countries’ defence and security engagement at both economical and geopolitical level.

 

PM Modi with Vietnamese counterpart Nguyen Xuan Phuc Reuters

PM Modi with Vietnamese counterpart Nguyen Xuan Phuc Reuters

PM Modi, is the first Indian PM to visit the communist nation in last 15 years. He would leave for China on September 3 evening so as to attend the G20 meeting.

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