India plans credit line to fund infrastructure across Asia
It is said to have far less cash than China's Silk Road fund
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New Delhi
PRIME Minister Narendra Modi is taking a page from China's playbook as he looks to widen India's influence in its neighbourhood - only with far less cash.
India plans to set up a special purpose facility to fund roads, bridges and power plants across southern Asia and even Africa, said Yaduvendra Mathur, chairman of the Export-Import Bank of India. While he declined to reveal the size, government officials familiar with the discussions say it'll be less than a quarter the size of China's US$40 billion Silk Road fund.
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