Canada will give another non-project loan of Rs. 14.70 crores to India, free of interest and repayable over a 50-year period. An agreement to provide for this loan was signed here [New Delhi] to-day [February 8] in an atmosphere of great cordiality and friendship. It was initialled on behalf of India by Deputy Prime Minister Mr. Morarji Desai himself – a rare occurrence – and by Canadian Minister for Trade and Commerce Mr. Robert Winters, who is now here to participate in the UNCTAD session. The loan can be used for buying equipment and material as may be mutually agreed to between the two countries.
