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India offers Uganda $205 million credit to boost energy, agriculture sectors

India offers Uganda $205 million credit to boost energy, agriculture sectors

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  25 July 2018 1:57 PM GMT

On Wednesday, Prime Minister Narendra Modi said that India is proud to be Africa’s partner regarding line of credits. During his address in the Parliament of Uganda, Modi said that Uganda is central to our commitment to the continent. For electricity, agriculture and dairy production, Modi said that India will extend lines of credit to Uganda $141 million (around Rs 986 crore) and $64 million (Rs 439 crore), respectively.

On Tuesday evening, Modi arrived in Kampala for a two-day visit to Uganda. This is the first tour to Uganda done by any Indian Prime Minister since 1997. The PM is on a five-day, three-nation tour to Africa.

He said that in the last Africa-India Forum Summit, we had committed a concessional line of credit of $600 million and $10 billion (Rs 4,122 crore) in grant assistance.

(Rs 4,122 crore)

New Delhi’s engagement with Africa shall continue to be guided by 10 principles, including India’s digital revolution to support Africa’s development, easier trade with India, addressing climate change, improving agriculture and strengthening cooperation to combat terrorism and to work towards a democratic and representative global order, the Prime Minister said.

Modi said that the maritime links of Uganda and India, uncertain paths as independent countries and shared struggle for freedom in a divided world have connected the two nations. This will foster better relations between the two nations.

The Prime Minister on Monday stated that two lines of credit will be extended from India to Rwanda- each of $100 million (Rs 689 crore) for development of special economic zone, development of industrial parks and agriculture.

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