India announces $10 bn credit for Africa

New Delhi, Oct 29 – Prime Minister Minister Narendra Modi on Thursday announced a credit of $10 billion to Africa which will be in addition to the ongoing credit programme.

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.

He was speaking on the last day of the India-Africa Summit Forum here.

Modi 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.

Posted by on October 29, 2015. Filed under World. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.