PM Narendra Modi calls for creation of Asia-Africa growth corridor for development of Africa

Prime Minister Narendra Modi on 23 May 2017 called for the creation of an Asia-Africa growth corridor for the development of Africa.

Modi called for the creation of this corridor while inaugurating the 52nd Annual Meeting of African Development Bank (AfDB) at Mahatma Mandir in Gandhinagar, Gujarat. The core theme of the Annual Meeting is ‘Transforming Agriculture for wealth creation in Africa’.

The meeting of African Development Bank is a five-day event that will witness about 3,000 delegates from 81 member countries.
While inaugurating the Annual General Meeting of the African Development Bank, he said that India is the fifth largest investor in Africa and in the last 20 years it has invested $54 billion. He said India is working with the United Nations and Japan to support development in Africa.

Highlights Annual Meeting of African Development Bank (AfDB)

• The main focus of the meeting will be on achieving sustainable growth with High 5s- strategy- which includes agriculture, energy, industrialisation, and regional connectivity as well as improved quality of life.

• This is the first time that African Development Bank is holding its annual meetings in India with a view to bolstering ties.
In addition to this, Prime Minister Modi also praised African countries for their response to the solar alliance initiative that was taken during the United Nations Conference on Climate Change.

As per reports, India is also organising an Africa-India Cooperation event on the sidelines of the event. The government has also organised an exhibition during the annual meetings of the Bank with an objective to showcase the capabilities of Indian companies in terms of technology, innovation, and start-ups for African countries.

Besides, Modi said that India must be an engine of growth and an example in climate-friendly development in the years to come. He added that after assuming office in 2014, he made Africa a top priority for India's foreign and economic policy.