NEW DELHI, May 23 — The United States is considering “investment support” of US$4 billion (RM17 billion) for India on top of billions of dollars extended earlier, New Delhi said today after the two sides signed an agreement to keep such money flowing.
The US International Development Finance Corporation (DFC) or its predecessor agencies have so far provided India with US$5.8 billion, of which US$2.9 billion is outstanding, for Covid-19 vaccine manufacturing, healthcare, renewable energy, financial inclusion and infrastructure.
“Proposals worth US$4 billion are under consideration by DFC for providing investment support in India,” India’s Ministry of Finance said as officials from the two countries met in Tokyo where their leaders will hold a summit tomorrow.
The ministry said the latest agreement “would lead to enhanced investment support provided by DFC in India”.
Today, US President Joe Biden and Indian Prime Minister Narendra Modi were among government heads from 13 countries who jointly launched a partnership called the Indo-Pacific Economic Framework for Prosperity. — Reuters
