Indian firms to get investment opportunities in Africa’s infrastructure sector
Indian companies will get an opportunity to invest in various infrastructure projects in Africa. Exim Bank has tied up with the African Development Bank (AfDB) to set up a Project Development Company which will pave the way for Indian developers to take part in infrastructure projects in the continent, a report said. Exim Bank and AfDB will form a Project Development Company in Africa to identify and develop such projects; the report said quoting Kodeidja Diallo, Director (Private Sector), African Development Bank. The company will share expertise related to infrastructure development and projects that are relevant for Indian investors. The overall trade between India and western African countries has increased from $1.9 billion in 2004 to $22 billion in 2013, Exim Bank said in its report on India’s trade relations with the Economic Community of West African States (ECOWAS). Countries like Cote d'Ivoire, Benin, Burkina Faso, Mali, Niger, Senegal, Togo and Guinea-Bissa are part of the west African trade bloc. “While India's total exports to ECOWAS have risen six-fold to $7 billion in 2013, India's total imports from ECOWAS have risen 23-fold to $15.7 billion,” said the Exim Bank report released at the Africa-India Partnership Day held in Ivory Cost recently. India's Ambassador to Cote d'Ivoire Dinesh Bhatia also attended the event organised by Exim Bank and the Federation of Indian Chambers of Commerce and Industry (FICCI). In October this year, India will host the third India-Africa Forum Summit in New Delhi.
July 7, 2015 | 7:30 pm IST.
to success.