LILONGWE-(MaraviPost)-Malawi is set to benefit from the Indian government commitment of US$10 billion to finance development projects in Africa.
The commitment follows the 12th CII-Export-Import (EXIM) Bank Conclave on India-Africa Project Partnership hosted last week in that country’s Delhi.
India’s President Shri Pranab Mukherjee opened the edition that attracted over 450 international delegations from over 37 African countries including King Mswati of Swaziland, Ruhakana Rugunda, Rugunda, Prime Minister and Leader of Government Business, Republic of Uganda and 32 ministerial delegations.
Malawi Foreign and International Cooperation Affairs Minister, Francis Kasaira, led the Malawi delegations to the conference.
The Malawi Minister broke the news in interview with The Maravi Post that US$10 billion was an opportunity for the nation to make use of which had the potential for investments.
Kasaira said the funds allocated to African countries including Malawi, will directly benefit the country with focuses on big investments on energy, youth developments, and agro-processing among others.
The foreign affairs minister also said Malawi will critically analyze all the serious and huge project proposal before submission to India for approval.
He added that the during the meeting, many stakeholders expressed great interest for Malawi’s pigeon peas saying India was a potential market for the crop.
“The meeting gave Malawi the opportunity to appreciate what’s at stake for us to benefit from this funding committed to African countries. We are planning to have big and regional projects, especially on energy, agro-processing and youth development.
“We are therefore appealing to our farmers and agro-dealers to embark on value added products, including pigeon peas which is in high demand in India. The market is already there. The nation has to organize itself for this opportunity”, said Kasaira.