INDIA ANNOUNCES $100 MILLION
LINE OF CREDIT TO KENYA
India on Wednesday
announced a $100 million Line of Credit to Kenya for agricultural mechanisation
after talks between Prime Minister Narendra Modi and Kenyan President Uhuru
Kenyatta during which they also decided to deepen economic cooperation,
identifying expansion of bilateral trade as a“priority.”Asserting that
challenges in the maritime domain are a shared concern, Mr. Modi said the two
sides will also explore opportunities in blue economy.“We are focussed on quick
operationalisation of our defence cooperation. Some of the specific areas of
priority would be hydrography, communication networks, anti-piracy, capacity
building, exchanges and defence medical cooperation.
“We are also
partnering to strengthen our security cooperation and capacities. In this
context, we have directed the Joint Working Group to meet early. It would focus
on cyber security, counter terrorism, combating drugs, narcotics, human trafficking
and money laundering,” the Prime Minister said at a joint press event with Mr.
Kenyatta.Noting that they reviewed the full range of bilateral relationship,
Mr. Modi said the two sides will encourage industry and business in both
countries to take lead in exploiting opportunities in healthcare, tourism,
information technology, agriculture, blue economy and energy.“The Joint
Business Council meeting tomorrow will work to build commercial engagement
through specific projects in these areas. To boost trade, we are also
cooperating on trade facilitation measures, including standardisation and
related areas,” he said.Recalling his visit to Kenya last year, the Prime
Minister said the two countries had identified deepening of economic
cooperation as one of the key focus areas and in this context, “expansion of
bilateral trade, greater flow of capital between two economies and stronger
developmental partnership are a priority.”
Emphasising that
broad-based and wide-ranging cooperation in agriculture and food security was a
shared priority, Mr. Modi said the two sides were collaborating to raise
agricultural productivity in Kenya.“The Line of Credit Agreement of $100
million signed for agricultural mechanisation today would open a new dimension
of engagement. Long-term arrangement with Kenya for production and import of
pulses is being explored and discussed. We would also be happy to share best
practices in organic farming with Kenyan farmers,” Mr. Modi added.
Prof. John Kurakar
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