Video: India offers Africa $10bn credit, 50,000 scholarships


Museveni and other African leaders arrive for the summit

Prime Minister Narendra Modi at the India-Africa Forum Summit announced scholarships and grants for Africa.

“Brilliant colours have today made Delhi the most special place in the world. Fabric of this world is richer because of the 54 sovereign flags of Africa,” Modi said.

“The heartbeat of 1.25 billion Indians & 1.25 billion Africans are in rhythm. 2/3rd of India & Africa is under the age of 35. If the future belongs to the youth, then this century is ours to shape & build.”

He said India was offering Africa USD 10 billion concessional credit “in addition to ongoing credit programme”.

India also offered Africa 50,000 scholarships over next 5 years and pledged to support expansion of Pan Africa E-Network.

India further offered Africa USD 600 million to include $100m for India Africa Development fund and $10m Health fund.

Speech by India Prime Minister 

He added, “So much of our journey has been together, now our futures are aligned. Africa & India are two bright spots of hope & opportunity in global economy. Development of human capital will be at the heart of our partnership, we will open our doors more.”

“We will make available our space assets and technology, will use possibilities of digital technology to enhance relationship. No more can be more considerate to climate change than Africa and India. We will work to reduce digital divide within Africa and between Africa and rest of the world. We wish to deepen our cooperation in maritime security and hydrography, and countering terrorism and extremism.”

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