New Delhi, April 22 (IANS) India is expanding its financial footprint in Africa through strategic lending and trade partnerships and its Export‑Import Bank lent Africa Finance Corporation (AFC) a $100 million five‑year loan, a new report has said.The report from Business Insider Africa said the loan underlined India’s expanding financial footprint in Africa, where New Delhi has been increasing trade, investment and export‑credit support competing with China, Europe, Gulf states and the U…
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Cape Town, April 19 (IANS) In recent weeks, India has sent 1,000 metric tonnes of rice to drought-stricken Malawi, 1,000 metric tonnes to Burkina Faso, and 500 metric tonnes plus relief supplies, including tents, hygiene kits, and medicines to Mozambique, but will its sole efforts solve the issue, an article in a South African news outlet asked.India’s shipments alone cannot reverse the food crisis in Africa, the South Africa-based Independent Online (IOL) said in a report.However, India’s ges…
Addis Ababa, April 6 (IANS) The African Union (AU) and its partners have warned that the ongoing Middle East conflict poses a “serious risk” to African economies.In a joint policy brief, the AU, the United Nations (UN) Economic Commission for Africa, the African Development Bank, and the UN Development Program warned that the longer the conflict lasts and the more severe the disruption on shipping routes, energy, and fertilizer supplies, the greater the risk of a significant growth slowdown acro…
Washington, March 27 (IANS) Confronting China’s growing economic and diplomatic influence, US nominees told senators that Southeast Asia and Africa will be central to Washington’s strategy in shaping the next phase of global competition. At a Senate Foreign Affairs Committee confirmation hearing on Thursday, nominees for top diplomatic positions outlined priorities spanning the Association of Southeast Asian Nations, the African Development Bank, and global education and cultural outre…
New Delhi, March 7 (IANS) China’s long-standing resource-backed lending model in Africa is increasingly coming under criticism from experts and development authorities, according to a new report.The model — which ties loans to future commodity exports such as oil, copper, and cobalt — has been widely used across the continent to finance infrastructure projects, but its sustainability is now being questioned, Daily Monitor said in its report.The African Development Bank (AfDB) has raised conc…