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India and Liberia to join hands in power, oil sectors

India has extended a line of credit of $144 million to Liberia for a power transmission and distribution project, and also signed a significant deal for cooperation with the west African country on Wednesday.

Published: 12th September 2013 09:13 AM  |   Last Updated: 12th September 2013 09:13 AM   |  A+A-

India has extended a line of credit of $144 million to Liberia for a power transmission and distribution project, and also signed a significant deal for cooperation with the west African country on Wednesday. These were among four agreements signed after the meeting between Prime Minister Manmohan Singh and visiting Liberian President Ellen Johnson Sirleaf, the first African woman head of the state and 2011 Nobel Peace Prize winner, on Wednesday afternoon.

“I requested President Sirleaf to facilitate Indian investment in agriculture, infrastructure, hydrocarbon, mining and manufacturing in line with Liberia’s national development goals and policies,” Manmohan said at a joint press event.

The decision to join hands in oil and gas sector assumes significance as it comes shortly after Liberia made the discovery of a large oil deposit off its coast in February last year.

Apart from the Line of Credit and energy pacts, the two countries also signed an agreement to set up a joint commission and a memorandum of understanding between their foreign services institutes.

The PM also said that the two countries have agreed to work together for the promotion of international peace and stability, particularly on the African continent.

The PM added that India deeply appreciated Liberia’s support for its candidature as a permanent member of a reformed and expanded UN Security Council.

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