The International Solar Alliance (ISA), which was mooted by Prime Minister Narendra Modi, and the $10-billion export credits promised by India to African nations are among the major issues that will come up for discussion with Indian officials at the annual meeting of the African Development Bank that begins at Gandhinagar in Gujarat from May 22-26. Modi is scheduled to attend the event on May 23.
“The India-Africa forum summit (in 2015) set the tone for a new partnership between India and Africa. PM Modi announced $10 billion export credits between India and Africa. He also said that there is going to be $600 million of grants that will be used to support business between India and Africa. I am also pleased about the Africa-India Development fund of $100 million announced by Modi… I am glad to be here after these announcement made by Modi,” said Akinwumi Adesina, president, African Development Bank (AfDB) while interacting with media persons on Saturday.
He said that the 52nd annual general meeting of the bank that is being held in India for the first time will discuss three major issues including ISA, $10 billion export credits and opportunities for Indian business in the future industralisation of Africa. “We will be discussing the Government of India about the International Solar Alliance. Modi did a fantastic job by launching the ISA. Africa has tremendous amount of sunshine which should be doing more than just nourishing our crops. It should power our homes. So we will discussing on bringing about a solar energy revolution (in Africa),” he said.
India had launched the ISA at the climate conference at Paris in 2015. The new body had invited all countries located fully or partly between Tropics of Cancer and Capricorn to be part of the alliance. Adesina said the discussion on solar energy will also be focussed on “improving off-grid power systems” in African countries. “We will also be talking about the $10 billion of export credits that PM Modi announced and how we can facilitate acceleration of these funds to those who need it, especially the small and medium enterprises,” Adesina added.
During his visit to Ahmedabad, African Development Bank President Akinwumi Adesina described Prime Minister Modi as a “businessman” and “popstar” who has been striking deals and doing a good job for India.