India to finance building of Eswatini's new parliament...

byPOLITICS EXPERT VLOG Published:June 15, 2021

India to finance building of Eswatini's new parliament

New Delhi: India will help finance the new parliament building of Eswatini with the Export-Import Bank of India (Exim Bank) extending a line of credit of $108.28 million. Eswatini is a landlocked country in Southern Africa and has Mozambique and South Africa as its neighbours. The country was earlier known by the name Swaziland.

The line of credit (LoC) agreement for this was signed between the General Manager of Exim Bank, Nirmit Ved, and the Finance minister of Eswatini, Neal H Rijkenberg.

All in all, the number of LoC extended by EXIM bank to Africa's smallest country now stands at four, with a total value of $176.58 million. The MoUs cover the building of an Information Technology park and agricultural development.

India is also involved in the financing of new Parliament in Burundi's national capital Gitega and two ministerial buildings in Bujumbura, the country's largest city and main port.

In the past, India was involved in the construction of the Parliament building of Afghanistan as well. The building was inaugurated in 2015 by Afghan President Ashraf Ghani and PM Narendra Modi.

A total of 211 LoCs amounting to $12.85 billion have been extended to the African countries in various infrastructure projects by New Delhi.

The Exim Bank has extended 272 LoCs, covering 62 countries in Africa, Asia, Latin America, and the CIS with credit commitments of around $26.84 billion.

Atmanirbhar Bharat Mission

Atmanirbhar bharat or Self - Reliant India Mission ' is the vision of the prime minister of india Narendra Modi of making india a self - reliant nation . This mission cameup in the form of the ' Atmanirbhar bharat abhiyan ' or self - reliant india mission ' during the announcement of the coronavirus pandemic related economic package on 12th May 2020.

This self - reliant policy does not aim that to be protectionist in nature and as the finance minister clarified , " self - reliant india does not mean cutting off from the rest of the world .
Ravi shankar prasad [ law and IT minister ]
said that self - reliance does not mean isolating away from the world.
Foreign direct investment is welcome , technology is welcome self - reliant india .

✔ Initiatives :-

Atmanirbhar bharat package is very numerous government decisions have taken place such as changing the definition of MSME
[Ministry of Micro , Small and Medium Enterprises is a brach of Government of India], boosting scope for private participation in numerous sector , increasing FDI
[Foreign direct investment] in the defence sector and the vision has found support in the many of the sector such as solar manufacture sector .

☑ Examples of Initiatives which helped Atmanirbhar Bharat :

The growth of india personal protective equipement [PPE] sector from zero before march to 1,50,000 pieces by the beginning of May .

The PPE industry in india has become a Rs.7000 crore in two months the second largest after china .

The largest fund in the country worth Rs.21,000 crore was setup by the IIT Alumni Council[Indian Institute of Technology Alumni Council ] with the aim of supporting the mission towards self - reliance ..
India's own 'Made in india ' 5G network
was also announced in july 2020 by Reliance Jio .
Mukesh Ambani
[Mukesh Dhirubhai Ambani is an indian billonaire buisness magnate ad the chairman , manging director and largest shareholder of Reliance limited ]announced in mid term of july ' Jio ' has created a complete 5G solution from scratch , that will enable us to launch a world - class 5G service in india , and they were using 100 percent homegrown technologies and solutions .
In month of july 2020 , it was announced that Apple
would manufacture one of their premium iPhone models in India.
In month of August 2020 , the Defence Minister Rajnath Singh announced that the Defence Ministry is now readyfor a big push to 'Atmanirbhar Bharat Initiative' .