New Delhi announced on Monday that the US is considering providing $4 billion in “investment support” to India, on top of billions already provided. The two sides signed an agreement to keep the money flowing.

The US International Development Finance Corporation (DFC) or its predecessor agencies have provided India with $5.8 billion in COVID-19 vaccine manufacturing, healthcare, renewable energy, financial inclusion, and infrastructure, of which $2.9 billion remains outstanding.

“DFC is considering proposals worth $4 billion for providing investment support in India,” India’s Ministry of Finance stated as officials from the two countries met in Tokyo ahead of their leaders’ meeting on Tuesday.

The current deal, according to the ministry, “would result in increased investment support offered by DFC in India.”

President Joe Biden of the United States and Indian Prime Minister Narendra Modi were among 13 government leaders who inaugurated the Indo-Pacific Economic Framework for Prosperity on Monday.

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