India releases $2-billion as funds for projects in Africa

Discussion in 'Foreign Relations' started by nrj, May 23, 2011.

  1. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

    Nov 16, 2009
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    PM Manmohan Singh has arrived in Ethiopia's capital Addis Ababa for the second Africa-India summit. CNBC-TV18 learns that reasonable progress is expected to be made in India's ties with African nations. CNBC-TV18’s Siddharth Zarabi reports.

    India PM will be meeting with the presidents and heads of state of several important African nations. As per the “off the record” briefing given to the media, there will be two-three key areas in which India and countries like Ethiopia and Tanzania are expected to sign deals.

    Sources say India has released USD 2 billion as funds for projects in Africa. That sum is likely to go up but the big newsmakers seem to large Indian business delegation that accompanied Indian Commerce Minister Anand Sharma, which included the likes of Sunil Mitall and company.

    Sources say several business expansion deals have been signed. Today, the Indian Foreign Minister met with almost a dozen foreign ministers from various African countries in the run up to the summit which begins from tomorrow.

    The expectation is that this visit will allow India to further its economic engagement with Africa and perhaps follow up with China who has been very active in the region.

    India releases $2-billion as funds for projects in Africa - CNBC-TV18 -

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