Bilateral Relations Of Indo-Switzerland And Indo-Italy
April 25, 2008 by Arun Pal Singh
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Bilateral Relations of Indo-Switzerland
Swiss assistance has been in the form of grants and has been provided for local costs as well as technical assistance. In the past, Switzerland has also provided mixed credit comprising 40 percent grant and 60 percent loan for power sector project.
The Neriyamangalam Hydro Electricity Project of Kerala State Electricity Board (KSEB) has been implemented under the Swiss Mixed Credit Agreement dated 25 June 1991. An amount of CHF39.235 million (Rs. 91.98 crore) has been disbursed under the credit line up to March 2005.
Presently, Swiss assistance in India is mainly directed towards NGO projects. During the last year Switzerland has supported several NGO project in India.
Bilateral Relations of Indo-Italy
Italy has been providing concessional assistance to India since 1981. During the Indo-Italian Cooperation meeting held on 5 June 1996, the Italian side committed 100 billion Italian Lire under this commitment. The following two projects are covered under this commitment:
Credit Line to NSIC
50 billion Lire of the committed sum of Lire 100 billion was allocated for establishing an open credit line for financing supplies of capital goods and related technical assistance for the development of the Indian Small and Medium Enterprises and was provided to National Small Industries Corporation Ltd. (NSIC).
The national small industries corporation (NSIC) signed the financial convention for the first tranche of 10 billion Lire on 21 March 2000. Italian Embassy has been requested to extend the draw down period up to 30 September 2005.
Regarding the balance of 40 billion Lira (second tranche), it was decided not to avail of the balance in view of the Government of India’s policy prevailing prior to September 2004 not to take any development assistance from smaller bilateral partners, including Italy.
Water Supply and Solid Waste Management Project in West Bengal
Lire 50 billion is proposed to be used for financing for which DEA has exchanged a Note Verbale on 5 February 2003 with Embassy of Italy. As per revised proposal, the Italian loan for this project would be available at an interest rate of 0.1 percent annum with repayment period of 38 years, including a grace period of 17 years.
The Government has since revised the policy on bilateral development assistance. In view of the revised policy of GOI to accept assistance from Italy, national small industries corporation has requested DEA to reconsider the proposal to avail of the balance amount of Lire 40 billion.
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Tags: bilateral relationship, Credit Line to NSIC, india, indo, italy, Kerala State Electricity Board, Neriyamangalam Hydro Electricity, Solid Waste, swiss, switerland
Bilateral Relations Of Indo-Switzerland And Indo-Italy…
Swiss assistance has been in the form of grants and has been provided for local costs as well as technical assistance. In the past, Switzerland has also provided mixed credit comprising 40 percent grant and 60 percent loan for power sector project….
Bilateral Relations Of Indo-Switzerland And Indo-Italy…
Swiss assistance has been in the form of grants and has been provided for local costs as well as technical assistance. In the past, Switzerland has also provided mixed credit comprising 40 percent grant and 60 percent loan for power sector project….