India Exim Bank Hosts 10th Africa-India Partnership Day to Strengthen Sustainable Growth and Investment in Africa

India Exim Bank organized the 10th Africa-India Partnership Day (AIPD) as part of the annual meetings of the African Development Bank Group (AfDB). This year’s event focused on the theme: “Mobilising Capital: India’s Role in Catalysing Africa’s Sustainable Growth”, highlighting the growing economic and strategic cooperation between India and Africa in driving inclusive development.

The event brought together policymakers, business leaders, and development experts to discuss how India and Africa can deepen their partnership to support sustainable, long-term growth.

Launch of Key Study on Africa’s Development

A key highlight of the event was the release of India Exim Bank’s research report titled “Unlocking Africa’s Sustainable Growth: India’s Role and Opportunities.” The report was officially launched by:

• Dr. Rajesh Ranjan, Ambassador of India to Côte d’Ivoire
• Mr. Lancine Diaby, Director General, Ministry of Finance, Côte d’Ivoire
• Ms. Knudsen Mette, Executive Director, African Development Bank
• Mr. Vivek Saraswat, General Manager & Board Member, TATA Africa
• Ms. Harsha Bangari, Managing Director, India Exim Bank

Africa’s Resilient Growth and Future Potential

The study outlines Africa’s current economic momentum:

• Africa recorded a 3.7% GDP growth in 2024, and this is projected to rise to 4.3% in 2025, despite global economic disruptions.
• The continent is progressing in regional integration, youth-driven innovation, and sustainability-focused reforms.

The report identifies four priority areas for Africa’s resilient and inclusive growth:

1. Climate-resilient infrastructure investment
2. Using natural resources for economic transformation
3. Strengthening the private sector
4. Boosting regional integration, especially through the African Continental Free Trade Area (AfCFTA)

However, these goals require significant financial support, with Africa needing around US$495.6 billion annually until 2030 to close the development financing gap.

Innovative Financing and India’s Role

To meet these massive financing needs, the report recommends:

• Blended finance models
• Tripartite partnerships between India, African countries, and GCC sovereign wealth funds
• Use of tools like green bonds, carbon markets, and debt-for-climate swaps

It emphasizes India’s unique position as a strategic development partner based on shared history and mutual interests. Unlike traditional donor models, India’s engagement is rooted in South-South cooperation and includes:

• Lines of credit
• Skill-building programs
• Technical assistance
• Trade and investment partnerships

Five Key Areas of Collaboration

The India-Africa development partnership is built around five pillars:

1. Infrastructure
2. Agriculture
3. Healthcare
4. Digital innovation
5. Clean energy

India Exim Bank plays a central role in facilitating this partnership by offering:

• Project finance
• Buyer’s credit
• Capacity-building initiatives

These efforts aim to support Africa’s journey towards inclusive, green, and self-reliant growth.

Way Forward

The study calls for evolving the current cooperation into a long-term, trust-based partnership. It encourages both regions to jointly address development challenges while promoting innovation, sustainability, and economic self-reliance.