Narendra Modi: India Pledges US$600m To Help Africa

Mr Modi described India and Africa as the 'two bright spots of hope in the global economy' AP

Indian Prime Minister Narendra Modi has announced US$600m (£393m) in assistance for development projects in Africa at a major summit in Delhi. More than 50 African leaders are attending the India-Africa Forum Summit, unprecedented in scale, in the Indian capital.

Although India's trade with Africa has more than doubled to US$72bn since 2007, it is still comparatively small.

The meeting is being seen as an attempt by India to improve ties with Africa.

A record number of African leaders, including South Africa's Jacob Zuma, Zimbabwe's Robert Mugabe, President Sisi of Egypt and Sudan's Omar al-Bashir are attending the summit - part of India's big push to increase its presence in Africa.

President Buhari Woos Investors In India, Insists On Recovery Of Stolen Funds

President Muhammadu Buhari (L), being received by the Indian Prime Minister, Narendra Modi, at the Hyderabad House, during his Official Visit for the 3rd India-Africa Forum Summit, in New Delhi, India

President Muhammadu Buhari yesterday in New Delhi met with chief executive officers (CEOs) of Indian firms with interests in Nigeria, promising his administration’s commitment to maintaining macro-economic stability and improving investor’s confidence in the country. He said that the fall in oil prices would not deter his government from creating an enabling environment for businesses to thrive.

Buhari also reaffirmed his administration’s resolute commitment to curbing corruption, plugging all loopholes in the public sector accounting and deploying available resources for the good of all Nigerians. Addressing members of the Nigerian community in India, President Buhari declared that the recovery of stolen funds and prosecution of persons who have been indicted for corrupt practices will also continue to be vigorously pursued.

In a statement signed by his special adviser, Media and Publicity, Femi Adesina, the president said that he expected the ongoing recoveries and prosecutions to serve as deterrents to others who nurse the ambition of seeking public office solely for illegal personal gains.