India to provide USD 250 mn Line of Credit to Kenya

 

 

 

 

 

 

INDIA on Tuesday announced a USD 250 million line of credit to Kenya for modernisation of its agricultural sector as Prime Minister Narendra Modi and Kenyan President William Samoei Ruto agreed to shore up bilateral ties in areas of defence, trade, energy, digital public infrastructure and healthcare. Following the Modi-Ruto talks, the two sides signed five pacts providing for cooperation in a range of areas including sports, education and digital solution, and unveiled a joint vision document to scale up maritime engagement in the Indian Ocean region.

 

The Kenyan side offered, in line with Kenyan laws, to provide land to Indian companies and institutions for cultivation of crops, including millets. In order to enhance bilateral economic engagement as well as to finance projects under development partnership, the two leaders also discussed the need to use local currencies for trade. India on Tuesday raised with Kenya the issue of two Indian nationals who went missing in the east African country in July last year. The missing Indians were identified as Zulfiqar Ahmad Khan and Zaid Sami Kidwai. There were reports that they were abducted. India flagged its concerns over the two missing Indians during delegation-level talks between Prime Minister Narendra Modi and Kenyan President William Samoei Ruto, according to officials.

 

In his media statement, Modi said India has been a “reliable and committed” development partner for Kenya and that New Delhi is fully prepared to share its achievements in digital public infrastructure with the east African nation. “As two agrarian economies, we agreed to share our experiences. We have also decided to provide a LoC of USD 250 million to modernise Kenya’s agricultural sector,” he said. At a media briefing, Dammu Ravi, secretary (economic relations) in the Ministry of External Affairs, said the Kenyan side offered land for farming by Indian companies under a cooperative model.