South Korea inks $10 bn infra pact

    country’s infrastructure sector
    In a major push to the country’s infrastructure sector, India and South Korea recently signed agreement involving $10 billion assistance for infrastructure development projects in India, including smart cities. The two countries signed MoU to establish $9 billion in concessional credit and $1 billion in Official development assistance (ODA) funding for infrastructure development projects, said Indian Finance Ministry sources, adding that both the countries implemented a decision taken during the visit of Prime Minister Narendra Modi to South Korea in May 2015. With the latest push, South Korea became one of the first non-G-7 countries to become an ODA contributor in India and also both the countries agreed to consider deploying part of this fund towards the Smart City projects in India and are working out a mechanism at senior official levels, to identify good infrastructure projects in India, to draw upon these funds, they added.
    CURRENTLY ONLINE
    We have 444 guests and no members online

    NBM&CW

    New Building Material & Construction World

    New Building Material & Construction World
    MGS Architecture

    Modern Green Structures & Architecture

    Modern Green Structures & Architecture
    L&ST

    Lifting & Specialized Transport

    Lifting & Specialized Transport
    II&TW

    Indian Infrastructure & Tenders Week

    Indian Infrastructure & Tenders Week