Wednesday, May 25, 2011

India will pay $ 5 billion to Africa over three years

India will lend five billion dollars (about 3.55 billion euros) to Africa over the next three years, announced Tuesday, May 24 Prime Minister Manmohan Singh's first day of a summit between the two partners, held in Addis Ababa. "We will offer 5 billion dollars in loans for the next three years. We will provide an additional $ 700 million [approximately EUR 497 million] to establish new institutions and training programs," Singh said during This summit scheduled until Wednesday at the headquarters of the African Union.

At the first summit of its kind in April 2008, India had already promised to Africa 5.4 billion dollars in loans over five years, including nearly $ 2 billion has been committed since, according to a tally announced Monday by The Indian foreign minister SM Krishna. Among the institutions that must be founded under the India-Africa partnership are an institute of information technologies expected in Ghana, an institute for educational planning in Burundi, an institute of foreign trade in Uganda and a diamond institute Botswana, where framework agreements have already been signed, has announced his next African Union on Tuesday in a statement.

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