Many African nations received about $12 billion or 38% of all credit extended by India in the past decade, just a few percentage points below its neighbors, according to Harsha Bangari, Managing Director of India’s Export Import Bank. These credit lines have been utilized for crucial projects in healthcare, infrastructure, agriculture, and irrigation, driving a steady increase in demand from Africa. Despite these impressive figures, India has lagged behind its bigger and wealthier neighbor in making inroads in Africa. However, Prime Minister Narendra Modi’s government has pushed for greater reach into Africa, boosting both economic and diplomatic links. As the continent deals with the economic fallout of the pandemic and Russia’s war in Ukraine, New Delhi is seeing an opportunity to push deeper into the continent.

Source: The North Africa Journal July 08, 2023 12:03 UTC