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Extension of the Indian Development and Economic Assistance Scheme

Dated:- 18-11-2015 - The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for second extension to the Indian Development and Economic Assistance Scheme (IDEAS). The Government of India ha .....

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give second extension to the Scheme for another five years i.e. from 2015-16 to 2019-20. Financial implication is towards payment of Interest Equalization Support to the lending bank, for which budgetary provision shall be made by the Department of .....

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e above mentioned amount includes the interest equalization support on existing LoCs as well as new LoCs to be issued during 2015-16 to 2019-2020. The IDEA Scheme, with suitable modifications and amendments, will continue to be implemented through th .....

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anding Committee comprising JS (DPA), MEA and JS (BC), DEA. On receiving approval of the External Affairs Minister on the recommendations of the Standing Committee, MEA shall forward the proposal to DEA for seeking the approval of Finance Minister. D .....

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aise resources from the market to finance the LoCs. The recipient/borrowing country shall provide sovereign guarantee to the lending bank. The Gol will provide the Interest Equalisation Support (IES) and further guarantee to the lending bank. Lines o .....

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road by positioning it as an emerging economic power, investor country and partner for developing countries. 96 LoCs aggregating USD 5005.75 million were issued through Exim Bank during the period 2005-06 to 2009-10 to 49 countries. The IES paid by G .....

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f 1200 million US dollar Lines of Credit to be extended to African countries and 500 million US dollars for non-African developing countries for each of the five years from 2010-11 to 2014-15. 108 LoCs aggregating USD 8924.21 million were issued thro .....

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