India-Africa Forum Summit 2015 held in New Delhi

Oct 29, 2015 16:15 IST

India-AfricaIndia-Africa Forum Summit (IAFS) 2015 was held for four days between 26 October and 29 October 2015 at Indira Gandhi Stadium Complex in New Delhi.

Besides PM Narendra Modi, the summit was attended by top leaders of 40 African nations.

The purpose of the meeting was to enable consultations at the highest political level between 54 nations across Africa and the Indian government.

It was the third IAFS since its inception. The previous summits were held in 2008 and 2011 in New Delhi and Addis Ababa (Ethiopia) respectively.

Few takeaways from the Summit

• India announced 10 billion US dollars of credit at concessional rate over 5 years. It is in addition to about 7.4 billion US dollars that India has already pledged since 2008.
• A grant assistance of 600 million US dollars was announced that will include an India-Africa Development Fund of 100 million and an India-Africa Health Fund of 10 million US dollars.
• India will provide 50000 scholarships to African students to avail higher education in our country.

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Quick Digest

Who: India-Africa Forum Summit 2015

Where: New Delhi

What: Held

When: 26-29 October 2015

Is this article important for exams ? Yes29 People Agreed
Read more Current Affairs on: India , Africa , Summit , development fund

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