Categorized | Breaking News

Indian windfall for Africa

Posted on 30 October 2015 by admin

Publication Date : 30-10-2015

 

India on Thursday reached out to Africa with a credit of $10 billion which will be in addition to the ongoing credit programme. This was announced by Prime Minister Narendra Modi while speaking at the last day of the India Africa Forum Summit.

“We will also offer a grant assistance of $600 million. This will include an India-Africa Development Fund of $100 million and an India-Africa Health Fund of $10 million,” Modi said.

“To add strength to our partnership, India will offer concessional credit of $10 billion over the next five years. This will be in addition to our ongoing credit programme,” said Modi.

The prime minister also pledged an assistance of $600 million to the continent and 50,000 scholarships for African students in India.

“We will also offer a grant assistance of $600 million. This will include an India-Africa Development Fund of $100 million and an India-Africa Health Fund of $10 million,�€ Modi said.

“It will also include 50,000 scholarships in India over the next five years. And, it will support the expansion of the Pan Africa E-Network and institutions of skilling, training and learning across Africa,” he added.

Modi pushed for stronger ties to counter the growing menace of terrorism. “We wish to deepen our cooperation in maritime security and hydrography, and countering terrorism and extremism and, why we must have a UN Comprehensive Convention on International Terrorism,” he said.

“We will also provide support for Africa Union’s peacekeeping efforts. And, we will train African peacekeepers here and in Africa. We must also have a stronger voice in decisions on UN Peacekeeping Missions,” he added.

In an attempt to helping Africa in developing its agriculture sector, Modi said, “Africa has 60 per cent of the world’s arable land reserves and just 10 per cent of the global output. India will help to develop Africa’s agriculture sector.”

Appreciating the measures taken by the African countries in the fields of healthcare, education and agriculture, the PM said: “We see strong measures that are radically improving healthcare, education and agriculture. Primary school enrolment in Africa now exceeds 90 per cent.�

He said Africa has now joined the global mainstream of innovation. “The mobile banking of M-Pesa, the healthcare innovation of MedAfrica, or the agriculture innovation of AgriManagr and Kilimo Salama, are using mobile and digital technology to transform lives in Africa,” Modi said.

“India has committed $7.4 billion in concessional credit and $1.2 billion in grant since the first India-Africa Summit in 2008,” he added.

 

Article source: http://asianewsnetwork.feedsportal.com/c/33359/f/566602/s/4b17895d/sc/24/l/0L0Sasianewsnet0Bnet0Cnews0E820A990Bhtml/story01.htm

Comments are closed.

Advertise Here
Advertise Here