Finance Minister Arun Jaitley, on Tuesday, kicked off the annual general meeting of African Development Bank in Gandhinagar in Gujarat today. Speaking at the inauguration session Jaitley said, “The 21st century will not only be Asia’s Century alone, it will belong equally to both Asia and Africa.” Further in his speech, Jaitley pointed out how India and Africa can together take advantage of opportunities for sectors like agriculture and food. India had joined forces with the African Development Bank (AfDB) in 1983. However, this is for the first time that India is hosting the annual meetings of AfDB and its sister institutions, including finance ministers of member countries. Prime Minister Narendra Modi is scheduled to visit the event later today.
Check out the updates from African Development Bank meeting here:
02: 40 PM: PM Narendra Modi met President of Benin Partice Talon on the sidelines of 52nd African Development Bank meet earlier today.
12:34 PM: As the African Development Bank meeting is underway, PM Narendra Modi after highlighting the strong bilateral ties between India and Africa, visited an exhibition that is being held on the sidelines of the annual meeting.
10:48 AM: Speaking about the rapid electrification work going on in the country, PM Modi also said that by next year, no village in India will be without electricity. India must be an engine of growth and an example in climate friendly development, he added.
10:45 AM: As per ANI, PM Modi also spoke about the challenges faced by both India and Africa. He said, “Our challenges also include ensuring our rural communities have access to finance, building infrastructure.” We have made unprecedented increase in capital investment in infra covering sectors such as Railways, Highways, power & gas pipeline, the PM added.
10:39 AM: India has in the last 3 years improved on all macro economic indicators. We have made big strides in development, ANI quoted PM Modi saying. Many of the challenges we face are the same, uplifting our farmers and the poor and empowering women, PM Modi said further in his speech.
10:30 AM: India is proud of its education and technical ties with Africa, said PM Modi highlighting that Africa and India trade has multiplied in the last 15 years and doubled in the last 5 years to US$ 72 billion in 2014-15.
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10:24 AM: India’s partnership with Africa is based on a model of cooperation which is responsive to needs of African countries, it is demand driven, added PM Modi while addressing the delegates from Africa.
10:16 AM: Prime Minister Narendra Modi, who is one a two-day visit to Gujarat, attended the African Development Bank meeting. Speaking at the event, PM Modi said “Over decades our ties have become stronger; after assuming office in 2014, we made Africa top priority for India’s foreign and economical policies.” Further in his speech, PM Modi said, India has had strong ties with Africa for centuries.
09:41 AM: Further in his speech, Jaitley said, “There is an increasing possibility of disruption in global economy due to the inward looking policies of some advanced countries.”
09:32 AM: Addressing the inauguration ceremony of annual meeting of African Development Bank, in Gandhinagar in Gujarat today, Finance Minister Arun Jaitley said, “The 21st century will not only be Asia’s Century alone, it will belong equally to both Asia and Africa.” With the changing global landscape for agriculture and food security, India and Africa can emerge as key partners in these areas, he added further.