India-Seychelles conclude umbrella line of credit agreement worth Rs 1250 crore

India and Seychelles have concluded the umbrella line of credit agreement to be extended to the African island nation for supporting its developmental projects, Foreign Secretary Vikram Misri informed on Sunday. As the two countries deepen their partnership, they have also signed an extradition treaty aimed at combating transnational crime.

Speaking at a special press briefing in Victoria on the ongoing visit of Prime Minister Narendra Modi, he told the media, "The two sides have concluded an umbrella line of credit agreement which will be extended in rupees and amounts to Rs. 1250 crore. It will be used to support priority development projects in Seychelles.

He further informed that the National Payments Corporation of India and the Central Bank of Seychelles also signed a Memorandum of Understanding for deploying the Unified Payment Interface (UPI) from India in Seychelles.

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