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India extends $100 million Line of Credit to Kenya for agriculture mechanisation

The announcement was made following a meeting between Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta in Gandhinagar, Guajrat.

Published: 11th January 2017 09:09 PM  |   Last Updated: 11th January 2017 09:09 PM   |  A+A-

Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta waves as they arrive to address the Indian Community at Kasarni Stadium in Nairobi Kenya on Sunday. | PTI

By Express News Service

NEW DELHI: Strengthening its foothold in Africa, India on Wednesday announced a $ 100 million Line of Credit to Kenya for agriculture mechanisation as it sought to operationalise its defence cooperation with the country at the earliest.

The announcement was made following a meeting between Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta in Gandhinagar, Guajrat. The two discussed ways to deepen economic cooperation and prioritise expansion of bilateral trade.

“The Line of Credit Agreement of $100 million signed for agricultural mechanisation today would open a new dimension of engagement. Long-term arrangement with Kenya for production and import of pulses is being explored and discussed. We would also be happy to share best practices in organic farming with Kenyan farmers,” Prime Minister Modi said in a statement following the talks.

A Joint Working Group (JWG) of the two countries would soon be meeting to discuss issues like cyber security, counter terrorism and maritime security.

 “We are focused on quick operationalisation of our defence cooperation. Some of the specific areas of priority would be hydrography, communication networks, anti-piracy, capacity building, exchanges and defence medical cooperation.

“We are also partnering to strengthen our security cooperation and capacities. In this context, we have directed the Joint Working Group to meet early. It would focus on cyber security, counter terrorism, combating drugs, narcotics, human trafficking and money laundering,” Modi said in the joint press event.

A Joint Business Council will be meeting on Thursday and will discuss the expansion of commercial engagement between the two countries. During his visit to the country last year, Prime Minister Modi had discussed “expansion of bilateral trade, greater flow of capital between two economies and stronger developmental partnership”.



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