Everything You Need to Know About India's $250 Million Line of Credit to Kenya

Bilateral trade is valued at $3.3 billion, with Indian exports contributing to an important part of the value, while Indian investments in Kenya were worth $3.2 billion. Kenya and India agreed to strengthen their collaboration in the sectors such as Construction, Mining, health and agriculture. As part of this, India will provide a $250 million credit line to modernise Kenya's overall development. Prime Minister Narendra Modi and visiting Kenyan President William Samoei Ruto finalised a joint vision statement on marine cooperation in the Indian Ocean. In order to tackle issues like piracy, it will act as a framework for marine security, enhancing maritime trade, speeding up connection, and enhancing information-sharing. Africa has always been a top priority for India's foreign policy, stated Modi, who also said that the Kenyan president's visit will renew bilateral relations and engagement with the continent.

In addition to discovering numerous novel initiatives, we additionally took the decision to strengthen our collaboration across all domains, setting the groundwork for a forward-thinking future. India and Kenya's bilateral trade and investment are constantly growing, Modi remarked. In order to modernise Kenya's  Overall industrial Development, we have also chosen to offer a $250 million line of credit," he stated. He also mentioned that India is ready to share its successes in digital public infrastructure with Kenya. Ruto praised India's contribution in bringing the African Union into full membership in the partnership of the biggest economies in the world during the nation's G20 chairmanship. He claimed that the new credit line is going to help Kenya in addressing immediate concerns including food security and basic necessities.

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