The Eastern Economic Forum will be prove to be a milestone between India and Russia:-
Before some days ago Indian Prime Minister Narendra Modi has visited to Russia at Eastern Economic Forum in Vladivostok. This forum was setup by the Russian President Vladimir Putin to attract investment to the farthest outlying Eastern Siberian and Arctic Pole areas of Russia. In this forum PM Modi has announced of the extend a $ 1 billion Line of Credit to Russia's far East regions (RFE). After two day visit of Russia PM Modi has become the first Indian Prime Minister to visit the Russian far East region.
20th Annual Summit of Delegation-level talks:-
This summit also held every years to discuss their bilateral relationship with each others. In 20th annual summit many agreements has signed between Modi and Putin to find new horizons of bilateral cooperation in areas like defence, space, trade, oil and gas, maritime connectivity and counter terrorism etc. This summit is looking a booster for two countries relationship.
What is Line of Credit:-
A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds.
About Eastern Economic Forum:-
? This forum was established by Russian President Vladimir Putin in 2015 with aim to support the economic development of far East region of Russia and to extend international cooperation in the Asia-Pacific Region. Pm Modi became the first Prime Minister who visited the Russian's Far East Region. He visited the place to participate in the 20th India-Russia annual summit with President Putin and the fifth meeting of the Eastern Economic Forum (EEF)...