Govt Offers $200-m Credit Line To Saharan Africa

New Delhi, Nov 14: | Updated: Nov 15 2003, 05:30am hrs
As part of the focus Africa programme, New Delhi stands committed to extend a $200-million line of credit to fund projects to be set up in Africa. The Prime Minister is also due to visit Ghana and Nigeria next month for further enhancing economic ties, special foreign secretary Rajiv Sikro has said.

Mr Sikro was inaugurating an interactive meeting with heads of Indian missions and commercial representatives from the Sub-Sahara African here on Friday. The function was organised jointly by the Federation of Indian Export Organisations and Associated Chambers of Commerce and Industry.

Mr Sikro said following a change in the existing policy, there would be no state-to-state credit but only lines of credit at concesional terms, and this would be available to African countries too.

We are encouraging the domestic industry to look at new projects in Africa, but there has to be a stake or commitment by it, Mr Sikro said.