Second Africa-India Forum Summit: Addis Ababa Declaration, Addis Ababa, Ethiopia, 24-25 May 2011

Sectors : Investment
Organisation : Other
Date made: 
Heads Of State
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Commitments in: Private Sector development and financial services for the poor - Investment

“1. We, the Heads of State and Government and Heads of Delegation representing the Continent of Africa, the African Union (AU) and its Institutions, and the Prime Minister of the Republic of India, have met in Addis Ababa, Federal Democratic Republic of Ethiopia, from 24 to 25 May 2011, to continue our dialogue, deepen our friendship and enhance our cooperation, under the theme: Enhancing Partnership:  Shared Vision... 

...5. We have thus decided to enhance our partnership with new initiatives for the mutual benefit of Africa and India. In recent years, this has included substantial financial flows from India to Africa in terms of grants, Foreign Direct Investment (FDI) and concessional loans that continue to contribute to capacity building in the socioeconomic sectors, particularly in the human resource development, the development of the private sector, increasing support to infrastructure, agriculture and SMEs, leading to a substantial expansion of Indian investment in Africa and of trade between Africa and India. We agree, to build upon this by assisting each other to achieve inclusive growth, socio-economic development and self-reliance.  Areas for such cooperation will include sharing strategies for sustainable development, poverty alleviation, healthcare and universal education, and sharing appropriate technologies. These new avenues for cooperation will enable us to add strategic depth to our partnership.”