India Offers Line of Credit to Pacific Island Nations

In News

India offered a line of credit to Pacific Island Nations who are leading a battle against climate change.

In-Detail

  • It has been four years since India had an engagement with the Pacific Small Island and Developing States (PSIDS).
  • Now, the country is re-engaging with these countries by offering $150 million as a line of credit to fight climate change.
  • On the sidelines of 74th United Nations General Assembly, the Prime Minister has met the leaders of PSIDS and made the offer.
  • The countries can invest the money for solar, renewable-energy and climate-related projects.
  • Also announced is a $12 million grant that can be invested to implement high-impact development projects in an area of their choice.

Ties With the Pacific Island Nations

  • India’s ties with individual Pacific Island Nations took a multilateral turn in 2014 with the formation of the Forum for India-Pacific Islands Cooperation (FIPIC).
  • The country actively cooperates with the islands nations in fighting climate change, enabling them to become blue economies, digital connectivity, space cooperation, tourism etc.
  • At the meet, the Prime Minister also proposed deputing technical experts for training and under ITEC programme specialised courses will be offered in areas identified by the partner countries.
  • India also offered training of diplomats of Pacific Island Countries at the Foreign Service Institute of India.
  • Under India for humanity programme, the Prime Minister has offered to organise a Jaipur Foot Artificial Limb Fitment Camp in a Pacific regional hub.

Conclusion

Climate change is impacting the Pacific Island Nations severely. Countries like Fiji are facing an existential crisis. India with its line of credits, technical training and diplomatic outreach is helping these countries to fight climate change. With big stakes in the Pacific region for India, the engagement with Pacific Island Nations is consistent and the ties are strong.

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