Exim Bank mulls co-financing projects with AfDB |
Export-Import Bank of India (Exim Bank) is exploring opportunities to co-finance projects with African Development Bank (AfDB) in Africa in areas of interest to India, according to Exim Bank Managing Director David Rasquinha.He said the co-financing of projects is likely to be in sectors such as power, agriculture and irrigation. Referring to the Kukuza Project Development Company (KPDC) in Nairobi (Kenya), that Exim Bank has set up along with IL&FS Group, African Development Bank and State Bank of India, for greater Indian participation in infrastructure projects in Africa, Mr. Rasquinha said Exim Bank is keen to work closely with AfDB to help KPDC take off in a big way. He added that AfDB has evinced interest in India`s Public Private Partnership (PPP) financing model especially in the infrastructure sector and is looking to encourage a similar model for African nations. Meanwhile, Exim Bank said that AfDB President Akinwumi Adesina, who is on his first official visit to India, has sought to secure stakeholder buy-ins under the AfDB Bank`s ambitious `High 5s` development agenda - which are five priorities crucial for accelerating Africa`s economic transformation. These include Light up and power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the quality of life for the people of Africa.
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