India announces $100 million Line of Credit to Kenya

11 January, New Delhi

India Wednesday announced 100 million US dollars Line of Credit to Kenya for agricultural mechanization after talks between Prime Minister Narendra Modi and visiting Kenyan President Uhuru Kenyatta.

Speaking to the press after exchange of agreements, Modi said, expansion of bilateral trade, greater flow of capital between two economies and stronger developmental partnership are on high priority.

He said, India is collaborating with Kenya to raise agricultural productivity there. He said, the Loan of Credit signed today will open a new dimension of engagement between the two countries.

Asserting that challenges in the maritime domain are a shared concern, Modi said the two sides will also explore opportunities in blue economy. He said, both countries are focussed on quick operationalisation of the defence cooperation along with hydrography, communication networks, anti-piracy, capacity building and defence medical cooperation.

Modi said the two sides will encourage industry and business in both countries to take lead in exploiting opportunities in healthcare, tourism, IT, agriculture and energy. The Prime Minister said, the Joint Working Group will meet early which will focus on cyber security, counter terrorism, combating narcotics trade, human trafficking and money laundering.

Kenyatta thanked India for all the assistance provided in various sectors including scholarships in IT and other fields. He invited Indian companies to invest in Kenya and also sought more market access for Kenyan products in India. Kenyatta also appreciated power transmission line projects being executed by Indian companies.

He also thanked India for the progress in installation of Tele-Cobalt Cancer Machine-Bhabhatron II at Kenyatta national hospital in Nairobi and appreciated training given to Kenyan Oncologists.

Later a joint statement was issued in New Delhi condemned terrorism in all its forms and reiterated their commitment to work together in this regard. The two leader committed to strengthen cooperation against terror threats from extremist groups.

Modi and Kenyatta reviewed the status of the agreements and decisions reached by the countries after Mr Modi visit to Kenya in July last year. India invited Kenya to join the framework agreement of the International Solar Alliance. It also offer its expertise in the area of LED smart street lighting and LED bulbs for domestic use.

Kenyatta was accorded a ceremonial welcome at the forecourt of Rashtrapati Bhawan this morning. He also laid a wreath at Rajghat.

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