Africa has become the second-largest recipient of credit from India as the country tries to catch up with China in expanding its influence in the resource-rich continent. While China’s loans to Africa have dipped since 2016, overall in the 10 years to 2020, it pledged $134.6 billion to African nations, according to data from Boston University’s Global Development Policy Center. However, Prime Minister Narendra Modi’s government has pushed for greater reach into Africa, boosting both economic and diplomatic links. In the last nine years, 18 of the 25 new Indian embassies or consulates were in Africa. “If you see the projects which India has supported you will see they bring a lot of benefits to the economy.”Source: Bloomberg

Source: Daily Nation July 05, 2023 07:59 UTC