In a significant step towards fostering closer ties with the west African nation of Liberia, India has decided to extended a $144 million line of credit to it.
This money is meant for use by the impoverished and civil war ravaged nation for a power transmission and distribution project. With an infrastructure in shambles after over two decades of civil strife, over 90 per cent of Liberians have no access to electricity.
In addition, India has also signed a pact with Liberia that will enable cooperation between the two countries in the energy sector. Under this pact, the aim will be to enhance bilateral cooperation in the oil and gas sector.
In all, India and Liberia inked four pacts following a meeting between PM Manmohan Singh and visiting President of Liberia, Ellen Johnson Sirleaf here on Wednesday.
Apart from eyeing its oil reserves, India has also reached out to Liberia as President Sirleaf is a powerful voice in Africa, a continent where India has been trying to increase its footprints in recent years and on the world stage.
While the two countries have been exchanging bilateral visits in recent years and share warm and cordial ties, neither has a diplomatic mission in each other’s country. In India’s case, the Indian envoy in Cote d’Ivoire is concurrently accredited to Liberia.