Indian prime minister, Narendra Modi, said that his country’s development partnership with Africa currently includes implementation of 180 Lines of Credit worth about $11bn in over 40 African countries.
“At the last India Africa Forum Summit, we had committed a concessional Line of Credit of $10bn, and $600mn in grant assistance,” said Modi on Wednesday at Uganda’sParliament, according to a press statement of the Indian embassy in Egypt.
Every year, over 8000 African youth are trained in a diverse set of programmes, said PM, noting that the Indian efforts will be driven by the African priorities, noted Modi.
Indian companies have invested over $54 bn in Africa while trade exchange is now over $62 bn, said PM.
“Africa’s exports to India are growing and our economic ties are now increasingly driven by new partnerships of innovation in the digital economy,” added PM.
The Pan Africa E-Network links 48 African countries to India, said PM noting that It can become the new backbone for digital innovation in Africa.
“With several coastal nations, our partnership now increasingly seeks to harness the benefits of Blue Economy in a sustainable manner. And, India’s medicines turned the tide on diseases that were once a threat to Africa’s future,” said PM.
Additionally, Modi said that India and Africa stand on the threshold of a future of great promise as confident, secure, youthful, innovative, and dynamic people, adding, “Uganda is an example of Africa on the move. It is witnessing increasing gender parity, rising educational and health standards, and expanding infrastructure and connectivity. It is a region with growing trade and investment.”