Indian Premier Offers Loan, Defense Cooperation in Vietnam

September 3, 2016 7:54 AM

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Indian Prime Minister Narendra Modi has offered Vietnam a loan of $500 million to strengthen its defense capacity amid China's intensifying presence in the disputed South China Sea.

The so-called "Line of Credit" was announced after Modi's talk with Vietnamese Prime Minister Nguyen Xuan Phuc during his official visit to Hanoi, a day before he is scheduled to travel to China to attend the G-20 summit.

Also read: Chinese tabloid says U.S. needs to 'wage war' to block off South China Sea islands

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