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Cletus Mushanawani in New Delhi, India—
India will offer Africa concessional credit of $10 billion in the next five years as a way of strengthening economic ties. Speaking at the official opening of the Third India-Africa Summit here yesterday, Indian Prime Minister Narendra Modi said the concessional credit was in addition to the $7,4 billion credit facility his country extended to Africa since the first India-Africa Summit in 2008.
“To add strength to our partnership, India will offer concessional credit of $10 billion over the next five years,” he said. “This will be in addition to our ongoing credit programme. 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.
“It will also include 50 000 scholarships in India over the next five years. It will support the expansion of the Pan Africa E-Network and institutions of skills training and learning across Africa.” Prime Minister Modi said Africa and India must work together to improve the lives of their people.
“If this century is going to be one in which all humans have a life of opportunity, equality and dignity, stand in peace with each other and live in balance with nature, then India and Africa must rise together,” he said.
“We will work together from the memory of our common struggles and the tide of our collective hopes, from the richness of our heritage and the commitment to our planet, from the pledge to our people and the faith in our future.
“Today, we pledge to walk together, with our steps in rhythm and our voices in harmony. This is not a new journey, nor a new beginning, but this is a new promise of a great future for an ancient relationship.”
Prime Minister Modi said Africa and India were two bright spots of hope and opportunities in the global economy. “Africa’s economic growth has gathered momentum and has a more diversified base,” he said. “African initiatives are replacing old fault lines with new bridges of regional economic integration.
“We see many successful examples of economic reforms, infrastructure development and sustainable use of resources. They are turning adrift economies into dynamic ones. 400 000 new businesses were registered in Africa in 2013 and mobile telephone now reaches 95 percent of the population in many places.”
Prime Minister Modi hailed Africa for joining the global mainstream of innovation. “The mobile banking of Mpesa, the healthcare innovation of MedAfrica, or the agriculture innovation of AgriManager and Kilimo Salama are using mobile and digital technology to transform lives in Africa,” he said.
“We see strong measures that are radically improving healthcare, education and agriculture. Primary school enrolment in Africa now exceeds 90 percent.” Prime Minister Modi said it was important to invest in the youths.
“As we look to the future, there is something precious that unites us,” he said. “It is our youths. Two-thirds of India and two-thirds of Africa is under the age of 35 years. And, if the future belongs to the youths, then this century is ours to shape and build.
“Africa is already on that path. We are all familiar with Africa’s ancient achievements. Now, its modern strides are catching the attention of the world. So, development of human capital in every walk of life will be at the heart of our partnership. We will open our doors more, we will expand tele-education and we will continue to build institutions in Africa.
“India’s expertise in healthcare and affordable medicines can offer new hope in the fight against many diseases and give a newborn a better chance to survive. We will also collaborate to develop Indian and African treasures of traditional knowledge and medicines.”
Prime Minister Modi said technology would be a strong foundation for the Africa-India partnership. He pledged to deepen partnership with Africa on clean energy, sustainable habitats, public transport and climate resilient agriculture.
Online Reporter