<p>The Cabinet Cabinet on Economic Affairs (CCEA) approved the new soft credit line of USD 3.7 billion at its meeting here. The government had cleared USD 4.8 billion in 2008.<br /><br />The credit programme titled Indian Development and Economic Assistance (IDEA) Scheme will be implemented from the current year, and would be completed by 2014-15. The benefits of IDEA reach both African as well as other countries.<br /><br />Under the scheme, the government supported Exim Bank Lines of Credit (LoCs) are made available to developing countries for support of developmental and other projects on the recommendations of Ministry of External Affairs.<br /><br />"The IDEA Scheme will promote India's political, economic and strategic interests besides building a positive image of India abroad," an official statement said.<br /><br />Resources for LoCs will be raised directly by the lending agency from the international debt markets, it said. The LoCs will be backed by Sovereign Guarantee.</p>
<p>The Cabinet Cabinet on Economic Affairs (CCEA) approved the new soft credit line of USD 3.7 billion at its meeting here. The government had cleared USD 4.8 billion in 2008.<br /><br />The credit programme titled Indian Development and Economic Assistance (IDEA) Scheme will be implemented from the current year, and would be completed by 2014-15. The benefits of IDEA reach both African as well as other countries.<br /><br />Under the scheme, the government supported Exim Bank Lines of Credit (LoCs) are made available to developing countries for support of developmental and other projects on the recommendations of Ministry of External Affairs.<br /><br />"The IDEA Scheme will promote India's political, economic and strategic interests besides building a positive image of India abroad," an official statement said.<br /><br />Resources for LoCs will be raised directly by the lending agency from the international debt markets, it said. The LoCs will be backed by Sovereign Guarantee.</p>