Mugabe, who is also chairman of the African Union, said that the structure of the Security Council was “defective”.
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The broadcaster said the U$10 billion dollars is new money and does not include the loan programmes that are now under way and in addition, India will offer grants of U$600 million over the same period.
Taking his turn at the India-Africa Summit in New Delhi, India President Mahama, said Ghana will be the first to sign onto the initiative as it falls into his vision to explore alternative sources of energy particularly solar.
India and Africa must speak in “one voice” in pushing for reform of UN Security Council, Prime Minister Narendra Modi asserted today, cautioning that it ran the risk of becoming irrelevant unless it adjusted to the changing world.
India wrapped up one of the largest bilateral summits in its history on Thursday, with over 50 heads of state or government and senior officials from across Africa converging in the capital, New Delhi, for the four-day India-Africa Forum Summit.
India’s push for aid and commercial ties is seen as an attempt to catch up with the massive Chinese influence in Africa.
Seeking to deepen political and economic partnership across the resource-rich continent, India announced $10 billion in credit to support Africa’s development at its third India-Africa summit, the southern Asian country’s most ambitious diplomatic outreach to the continent with representation from virtually all of Africa’s 54 countries.
PM Modi called India and Africa two bright spots of hope and opportunity in the world economy.
“To add strength to our partnership, India will offer concessional credit of $10 billion over the next five years. The fact is China and India have sound relationship because we share common interests”, Chinese Foreign Ministry spokesman Lu Kang told a media briefing here when asked about China’s reaction to the India-Africa Forum Summit.
“India is honoured to be a development partner for Africa”, Modi said.
Modi also proposed to expand and extend the Pan Africa E-Network, conceived by late President APJ Abdul Kalam, which links 48 African countries to India and to each other.
India plans to invest in Africa in the sectors of healthcare, agriculture, digital technology and resource management. It is creating 100 capacity building institutions and developing infrastructure, public transport, clean energy, irrigation, agriculture and manufacturing capacity across Africa.
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Modi said there was need to isolate all types of terrorism and called for finalising comprehensive convention against global terrorism.
