30 January 2013

AfDB President Visits India to Strengthen Ties, Participate in Development Summit

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The President of the African Development Bank Group, Donald Kaberuka, is undertaking an official visit to India from January 30 to February 1, to participate as keynote speaker in the Delhi Sustainable Development Summit and hold meetings with senior Indian officials. The goal of the visit is to strengthen ties with the South Asian giant, particularly in areas of partnership and resource mobilization.

The meetings on Wednesday are expected to focus on interacting with the private sector, with a particular focus on Indian companies engaged in infrastructure projects. The agenda will also include a luncheon and presentation by Exim Bank of India, the Infrastructure Leasing and Finance Company, and the Confederation of Indian Industries.

Discussions will focus on India's experience with Public Private Partnerships (PPPs), the experience of Indian companies investing in projects in Africa, and exploring how such companies can work with the Bank to scale up investments in Africa. These exchanges are expected to set the stage for President Kaberuka's meeting with the Indian Finance Minister on Thursday morning.

On Thursday evening, the Bank Group President will deliver the keynote speech at the Delhi Sustainable Development Summit, which has as its theme "The Global Challenge of Resource-Efficient Growth and Development".

During his visit, the Bank Group President, who is accompanied by a delegation of Bank staff, is expected to discuss renewed bilateral cooperation between India and the Bank; India's continued participation in the 13th African Development Fund (ADF-13) replenishment discussions; and the organization of an "India Day" alongside the AfDB's 2013 Annual Meetings in Marrakech in May to showcase the expertise of Indian firms. The President will also be addressing university students and setting the stage for greater analytical collaboration between Indian think tanks and the Bank.

India has been a member of the ADF since 1982, and a member of the Bank since 1983. India supports the AfDB through the India-Africa Economic Cooperation Trust Fund, with an untied grant of US $6.75 million, signed during the Bank's Annual Meetings in May 2010 for a period of three years. The trust fund supports infrastructure, private sector development, ICT, trade, science and technology, and knowledge-sharing on India's economic development experience.

India has intensified its commitment to Africa since the first India-Africa Summit in New Delhi in April 2008. The Government has announced that India will offer and additional line of credit (LOC) for development projects amounting to US $5.4 billion, both bilaterally and to the regional economic communities in Africa.

Capacity building is another cornerstone of India-Africa cooperation, with India confirming in March 2012 its commitment to set up 32 capacity-building institutions at the regional level and 40 at the bilateral level in Africa.

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