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Africa-India Partnership Day Held in Rwanda
Jun 04, 2014

In an effort to further boost India-Africa business collaborations, an Africa-India Partnership Day was organised on the sidelines of the African Development Bank's annual general meeting in Kigali, Rwanda recently. The second such event, being organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Exim Bank, has as its theme Sharing India's Experiences with Africa.

It would serve as a platform for sharing India's experiences, knowledge, ideas, policy options and information on project identification, conception, development and financing for infrastructure development in Africa. The objective is to ultimately establish the Africa-India Partnership Day as an integral part of the events associated with the annual meetings of African Development Bank.

The Exim Bank is planning to set up a project development company with the African Development Bank (AfDB) to encourage public-private partnership (PPP) projects in Africa. The proposed company will be targeted at bankable projects in Africa.

India's investments in Africa since 2005 total $50 billion and lines of credit to African countries total $8 billion. Several multinational giants like Tata, Reliance, Bharti Airtel and Ashok Leyland have significant presence in Africa. Bilateral trade between India and Africa has shot up from $25 billion in 2006-07 to around $70 billion in 2012-13. The Indian government has targeted it to touch $200 billion by 2020.

The Africa-India Partnership Day will serve to help in synergizing the priority areas for engagement between the African Development Bank, Government of India and Exim Bank of India.

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