Roundup: India pledges to involve itself in Africa's development

India Thursday pledged to involve itself in African economic and social development by providing soft loans and grants, while appealing to the continent to join calls for UN reform and address terrorism.

Indian Prime Minister Narendra Modi said India offered a concessional credit of 10 billion U.S. dollars to Africa over the next five years and a grant assistance of 600 million U.S. dollars, when addressing the 3rd India-Africa Forum Summit (IAFS).

"To add strength to our partnership, India will offer concessional credit of 10 billion U.S. dollars over the next five years. This will be in addition to our ongoing credit program," he said.

"We will also offer a grant assistance of 600 million U.S. dollars."

The grant programs includes an India-Africa Development Fund of 100 million U.S. dollars, and support in health, scholarships, capacity-building institutions like infrastructure, power, public transport, clean energy, irrigation, agriculture and manufacturing.

He said India will raise the level of our support for Africa's vision of a prosperous integrated and united Africa and "will help connect Africa from Cairo to Capetown, from Marrakesh to Mombasa".

Information technology parks, tapping human capital in every walk of life, reducing digital divide within Africa and between Africa and the rest of the world, will also be part of the cooperation between the two sides, he said.

"The heart beat of 1.25 billion Indians and 1.25 billion Africans are in rhythm. It is not just a meeting of India and Africa. Today, the dreams of one-third of humanity have come together under one roof. We have spoken in one voice in the world and formed a partnership of prosperity," he said.

Some 54 African nations are participating in the four-day Summit, which is being attended by at least 34 heads of state or heads of government in what is being claimed as India's biggest Africa outreach program.

On UN reforms, the Indian prime minister said the world was undergoing political, economic, technological and security transition on a scale and speed rarely seen in recent history.

"Yet our global institutions reflect the circumstances of the century that we left behind, not the one we are in today," he said while stressing the need for the reforms of the United Nations institutions. "These institutions have served us well, but unless they adjust to the changing world, they risk becoming irrelevant. We cannot say what will replace them in an uncertain future," he said.

"That is why India and Africa must speak in one voice for reforms of the United Nations, including its Security Council," Modi added.

On counter-terrorism cooperation, he said in many parts of the world, "the light of a bright future flickers in the storm of violence and instability".

"When terror snuffs out life on the streets and beaches, and in malls and schools of Africa, we feel your pain as our own. And, we see the links that unite us against this threat (terrorism)," he said. Enditem