On Monday, Prime Minister of India, Dr. Manmohan Singh announced a five-billion-dollar credit to Africa for various development projects. Besides, besides $300 million for a new Ethio-Djibouti railway line in Ethiopia, Dr. Singh has also granted an additional $700 million package to build new institutions and training programmes across Africa. The amount will be offered for the next three years.
Dr. Singh said that the funds indicate India’s growing relations with the resource rich continent, Africa. These grants will also enhance India’s diplomatic and security presence in Africa.