Modi Announces New Credit Line of $500 Million for Vietnam

India-Vietnam signed 12 agreements during PM Modi’s bilateral meeting with Vietnamese President Tran Dai Quang.

India and Vietnam will sign 12 agreements for cooperation in areas including defence and IT, to boost bilateral ties on Saturday.

Prime Minister Narendra Modi also announced a new line of credit of $500 million for Vietnam to facilitate deeper defence cooperation. He is the first Indian Prime Minister to visit the communist nation in 15 years.

The announcements were made on the second day of PM Modi’s two-day bilateral visit to Vietnam, before he heads to China for the G-20 Summit.

Here's a short video of the ceremonial reception for PM @narendramodi at the Presidential Palace in Hanoi pic.twitter.com/h4FlGdLa0P

— Vikas Swarup (@MEAIndia) September 3, 2016