India Sets Aside 5.0 BLN USD for Infrastructure Development in Africa

LUSAKA (NNN-ZANIS) -- India has set aside five billion US dollars for infrastructure development in Africa as well as for the establishment of various institutions aimed at building human resource capacity which is key to the development process of African countries.

This came to light when India’s External Affairs Minister of State, Preneet Kaur, inter-acted with Heads of African Regional Economic Communities (RECs) gathered in New Delhi for the 2nd India-African Regional Economic Communities meeting.

Kaur stressed India’s commitment to assisting African countries in building human resource capacity as evidenced by the provision of a total of 22,000 scholarships in various disciplines for the next three years, according to a press statement made available to ZANIS here Wednesday by the Zambian High Commission (embassy) in New Delhi.

Common Market for Eastern and Southern Africa (COMESA) Secretary-General Sendiso Ngwenya noted that value-adding aid was essential for the continent’s development and enhanced regional integration.

Ngwenya cited technology transformation and infrastructure development, including railway connectivity, as vital elements in giving impetus to regional integration and development of the African continent.

The two-day meeting was expected to identify economic areas of critical importance for economic co0operation with India to ensure acceleration of economic growth and transformation in member countries of African RECs. -- NNN-ZANIS