Mumbai, India (CU)_ According to media reports, New Delhi has provided 222 lines of credit (LoCs) at a value of $14.07 billion for 357 projects in 42 African countries, as part of India’s ongoing engagement with its neighboring countries and Africa in the development aid program. In addition, India has also extended 37 LoCs totaling $14.27 billion for 162 projects to five neighboring countries.
According to the government, the LoC projects in African countries are implemented in areas such as roads, railroads, power, ports and shipping, education, telecommunications, healthcare, and aviation. According to the media, India has thus far executed 197 projects in Africa and is actively implementing 65 more. According to the report, 81 additional projects are now in the pre-execution phase.
During a discussion on India’s ties with Africa held earlier this month, S Jaishankar stated that the resource-rich continent of Africa plays a crucial role in India’s foreign policy approach. According to him, the foreign policy stance is now reflected in India’s rising diplomatic footprint in Africa, which presently includes 43 countries. Apart from these LoCs, the government has also provided African nations with $700 million in aid.
According to the official statement made in Parliament, in addition to African countries, India has also expanded 37 Lines of Credits to Bangladesh, Maldives, Myanmar, Nepal, and Sri Lanka. Nepal, among these five countries, receives the most LoCs (27) from India, followed by Myanmar (15), Bangladesh (12), Sri Lanka (11) and the Maldives (3).
India has also expanded grant-in-aid programs in neighboring partner nations. According to the Ministry of External Affairs, these programs are implemented in the sectors of railway linkages, roads and bridges, waterways, border-related infrastructure, and capacity building in Afghanistan, Bangladesh, Mauritius, Maldives, Myanmar, Nepal, and Sri Lanka. According to junior EAM V Muraleedharan, “Under the ‘Neighborhood First’ policy, development cooperation is an important component of our engagement with neighboring countries”.
