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Cabinet approves creation of PDF to catalyse Indian economic presence in Cambodia, Laos, Myanmar and Vietnam

Cabinet approves creation of PDF to catalyse Indian economic presence in Cambodia, Laos, Myanmar and Vietnam

India Blooms News Service | | 31 Aug 2016, 07:28 pm
New Delhi, Aug 31 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday given its approval to create a Project Development Fund (PDF) with a corpus of Rs 500 Crore for catalysing Indian economic presence in the Cambodia, Laos Myanmar and Vietnam.

The PDF shall be housed in Department of Commerce and operated through the EXIM Bank, read a government statement.

The PDF shall be governed by an Inter-Ministerial Committee under the chairpersonship of the Commerce Secretary.