Rise of Africa key to global rebalancing, says Jaishankar

INTERNATIONAL DESK: Rise of Africa is key to global rebalancing, External Affairs Minister S Jaishankar said on Wednesday.

“We are there for the long term with a focus on promoting capabilities and creating capacities. For India the rise of Africa is key to global rebalancing,” he said while addressing the 18th CII-EXIM Bank Conclave on India-Africa Growth Partnership in Delhi.

“India believes in forging a development partnership with Africa that is based on the needs and priorities of our partners,” he said.

Speaking of India’s commitment to ties with Africa, Jaishankar cited the concessional loans of over $ 12.37 billion.

He said that 197 projects – from drinking water schemes, irrigation, to rural solar electrification power plants and transmission lines – have been completed in the framework. Currently, 65 more are under execution and 81 are at the pre-execution stage, he added.

“They have generated local employment even as they change the lives of many people in Africa,” he said.

Jaishankar enumerated India’s assistance to and partnership with Africa especially during the COVID pandemic.

India is now encouraging pharma and vaccine manufacturers to explore joint manufacturing facilities in African countries, he said.

The future of India-Africa partnership focuses on “Digital”, “Green”, “Health”, “Food and on water”, he said.

“These we believe are the pressing priorities of Africa today,” he said, adding that India has always stood by its friends in times of need. (TIE)