Just in: Prime Minister Narendra Modi announces concessional credit of USD 10 billion over the next five years for Africa. India also offers a grant assistance of USD 600 million which will include India-Africa Development Fund of USD 100 million and India-Africa Health Fund of USD 10 million.


The India-Africa summit is being seen as India's most successful outreach ever to the resource-rich continent which has all major powers vying for influence. Given the time and attention he has spared for the summit, Modi is looking to use his personalized style of diplomacy to not just make the event memorable but to also prove that foreign policy remains his strong point despite recent reverses in the neighbourhood, most notably in Nepal.