India has edged out China as the preferred partner for key European nations, Japan and the United Arab Emirates for joint infrastructure and capacity building projects in Africa.
The UAE, France, Germany, UK and Italy are in talks with India to launch joint projects in Africa owing to India’s goodwill created by funding demand driven projects and providing concessional loans for various sectors, according to people aware of the matter.
On the other hand, they said, China’s Belt and Road Initiative is facing a pushback in Africa, with some countries cancelling or going slow on projects owing to huge debts.
Japan, during Prime Minister Narendra Modi’s recent visit to Tokyo, announced a mega health project in Kenya that will be implemented jointly by India and Japan as part of thirdcountry initiatives.
ET has learnt that the UAE could partner India for projects in parts of Eastern Africa where the UAE has strong political connections. “France, Germany, UK and Italy have expressed interest in partnering India in third-country projects in Africa. These countries are expected to outline specific projects where they are interested to partner India,” said one of the persons, who spoke on condition of anonymity.
Besides, Africa’s second biggest economy and a big investor in Africa, Morocco has also expressed interest to partner India for joint projects in various African countries with special focus on Western Africa.
Source: ET
Image Courtesy: TN
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