The Prime Minister of India, Narendra Modi, on Thursday said it would give N2.25trillion ($10billion) concessional lines of credit to Nigeria and 53 other African nations in the next five years to boost their economy.

He also said additional grant assistance of N135billion ($600m) will be made available to African countries by India.

Modi, who made the disclosures in an address at the opening of the Plenary Session of the Third India-Africa Forum Summit in New Delhi, said the credit lines are necessary because Africa is now joining the global mainstream of innovation.

He said it was time for India and Africa to take their destinies in their hands and stop living in the shadows of colonialism.

He said: “From connecting lives to collaborating for our prosperity, from keeping our people safe to advancing our global interests, the agenda of our partnership stretches across the vast territory of our linked aspirations.

“To add strength to our partnership, India will offer concessional credit of US $10billion over the next five years. This will be in addition to our ongoing credit programme.

“We will also offer a grant assistance of US$600million. This will include an India-Africa Development Fund of $100million and an India-Africa Health Fund of $10million.

“It will also include 50,000 scholarships in India over the next five years. And it will support the expansion of Pan-Africa E-Network and institutions of skilling, training and learning across Africa.”

Explaining why the interventions are necessary, Modi said economic indices have indicated that this century was for India and Africa to build to shape the world.

He said apart from abundant natural resources, India and Africa harbour productive youths who are under 35 years.

He said: “We have lived in the long shadow of colonialism. And we have fought for our liberty and dignity. We have struggled for opportunity and also for Justice, which the African wisdom describes, is the prime condition of humanity.

“We have spoken in one voice in the world and we have formed a partnership for prosperity among ourselves. We have stood together under blue helmets to keep peace. And we have fought together against hunger and disease.

And, as we look to the future, there is something precious that unites us: it is our youth. Two-thirds of India and two-thirds of Africa is under the age of 35 years. And if the future belongs to the youth, then this century is ours to shape and build.”

cc: lalasticlala

http://thenationonlineng.net/india-offers-n2-25tr-concessional-credit-to-nigeria-53-others/

“It will also include 50,000 scholarships in India over the next five years. And it will support the expansion of Pan-Africa E-Network and institutions of skilling, training and learning across Africa.”

wao. i love that. Who say Baba is not working.


Ride on My President

Great

Sai Baba

OnankpaBa:
“It will also include 50,000 scholarships in India over the next five years. And it will support the expansion of Pan-Africa E-Network and institutions of skilling, training and learning across Africa.”

wao. i love that. Who say Baba is not working.


Ride on My President

yesooo...at least , his trip to US has yielded something.

Nice

DONSMITH123:


yesooo...at least , his trip to US has yielded something.

Wailers will still have something to say.

nice one.

Dirty India offering Ab0ki money and he is happy. Like I said earlier; Ab0ki goes to school.

OnankpaBa:


Wailers will still have something to say.

In as much as I want to commend this gesture from the Indian government , I would like the president to be careful and cautious with the sort of help they get, because in the long run, some of this assistance might have some hurtful conditions which portends harm to the Nigerian economy.

In any case, I still believe in Baba's competence.

Baba begging both the strong and weak for assistance....

Credit not dash.....them don go borrow money for india??

India have no mineral resources.....yet they re utilising technology to generate income..Thumb up.

This man has gone to bring more problem to Nigeria

Credit (Borrow)......chai!

warrior01:
Dirty India offering Ab0ki money and he is happy. Like I said earlier; Ab0ki goes to school.

Nigeria fdont accept ooooooo. this indians feel they are smarter .soon they will assume they are higher than us africans beause of the money they gave us.

India that also warehouses lots of poor people

Anyway what's the catch? Free access to oil I guess.

warrior01:
Dirty India offering Ab0ki money and he is happy. Like I said earlier; Ab0ki goes to school.

See this He-Goat, this are the kinda people who worship USA with the whole of their soul, Some people wey never comot their papa house would come online to tell us how this and that is, visit the country and see how they enjoy all basic amenities without having a tangible natural resources. I am pretty sure you don't know their population is about X10 of nigeria if not more than that. The whole of Nigeria would turn into dust bin with that kinda of population

India should care for their poor population too
This is to let you know that NO GOVERNMENT CARES FOR YOU.
YOU WILL BE WRONG WAITING FOR GOVERNMENT

India giving us credit?
It shld be the other way round...
The future Nigeria is a debtor even to india.. Africa's Giant .


Yatch360

I heard Nigeria was once upon a time equal or greater than India, look what has become of the geographical entity today, taking arms from India. I blame the northerners & Westerners for this, the destroyed this country right from 1960.

warrior01:
Dirty India offering Ab0ki money and he is happy. Like I said earlier; Ab0ki goes to school.

we know una

Rich nation , poor people.

Another propaganda

okay.... so india is that generous?

What a shame!Oil producers indeed!