He said India is the fifth largest investor in Africa as in the last 20 years it has invested $54 billion.
Speaking on the occasion, Shaktikanta Das, Secretary, Department of Economic Affairs, called Africa a continent of vast opportunities and said that there are opportunities for India and Africa to revive global growth.
Commenting on India's development journey, he said, "Prime Minister Modi has positioned India globally".
He said that Africa-India trade had multiplied in the last 15 years with it doubling in just the last five years to reach almost 72 billion dollars in 2014-15.
The report sees reasons to be hopeful for the economy this year, predicting a 3.4 percent expansion after weak 2.2 percent growth in 2016. India has successfully completed the Pan-Africa e-network project for tele network covering 48 African countries.
At the same time a transformed Africa is taking shape. Four of the world's five fastest-growing economies are in Africa, 14 of its countries grew above 5 percent in 2016, and 18 of them between 3 to 5 percent. Those missing links are the inability of African countries to exploit the preferential trade agreements provided by India; the need for capacity-building of small and business enterprises in Africa to bring out their real potential; using technology to leapfrog development in many sectors like education; and the inability of Indian financial institutions to push credit facilities to banks in Africa. "You can't develop in the dark", he said, "and 645 million Africans are now without electricity".
Fielding questions about the Bank's financial status and its capacity to fill the funding gaps that inhibit the continent's growth, he stressed the Bank's AAA credit rating, and its ability to unlock others' funding - at a rate of some USA $4 for every United States $1 of its own - to finance development.
The African Development Bank is also in the vanguard of renewable energy development and the remarkable "off-grid revolution" in Africa.
Also, later this year, the African Development Bank will be launching the "Africa Investment Forum" to leverage African and global pension and sovereign wealth funds into investments in Africa.
Africa is expected to witness a marginal improvement in external inflows that are estimated to inch up to 179.7 billion dollars in 2017 from 177.7 billion dollarsa year ago.
"It is one of our best partnerships in the area of skills".
Modi, however, added that India still faces many challenges in its way to development, like uplifting the farmers and the poor of the country, and empowering its women.
India is already one of the top bidders for Bank projects.
"In Africa, we are working in some of the most hard areas of Mali, Chad, Senegal, Niger, Nigeria, which are French speaking regions", RK Gupta, CMD of WAPCOS, told BusinessLine. The 2017 AfDB Annual Meetings will be held in Ahmedabad, India, 22-26 May.
Meanwhile, the Senate committee's subpoena to Flynn focused on his interactions with Russian officials. The letter notes that the time frame of the request was January 16, 2015, through January 20, 2017.
Oscar Lopez Rivera has been under house arrest in Puerto Rico since February after serving 35 years in prison. Lopez held a news conference Wednesday hours after being released from house arrest after decades in custody.
True to form, Trump's note was blunt and appeared a bit rushed. "(He forgot: "See you next summer")", wrote Raoul Wootliff . He also expressed firm support for Israel . 'We pledge never to be defenseless against that hatred again, ' he said.
The teenager's friends quickly began shared pictures of Callander on social media, using the hashtag #manchesterattack. Further details were not immediately available, though a GoFundMe page was quickly established in Atkinson's memory.
Dixon, Franchitti, and Davies-Dixon were unharmed in the incident and have thus far not addressed the robbery in public. Until then, Ganassi and his team are not talking to reporters so they can focus on getting ready for Sunday's race.
He also points out that the volume of sales fell the most for homes above $500,000, while sales of homes under $300,000 were flat. As the pace of selling decelerated, there were 5.7 months' worth of homes available, up from 4.9 months in March.
The research also found that being overweight in adulthood can significantly increase the risk for developing breast cancer. Yet McTiernan said she was surprised to find that just one drink a day on average was enough to raise a woman's risk.
Read that sentence, read it again, and picture what would happen if you could go back in time two months and tell yourself that. The WWE's decision to oust Orton from this throne had fans divided, erupting in a storm of Tweets after the fight concluded.
Added Cooper: " North Carolina voters deserve a level playing field and fair elections, and I'm glad the Supreme Court agrees ". Kagan explained that, when it comes to drawing congressional districts, race and party are not necessarily separate categories.
Up-To-Date Stock Report: PennTex Midstream Partners, LP (PTXP)
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WHO assembly set to choose next chief among 3 candidates
Nabarro tweeted his congratulations to Tedros after the vote, writing, "I urge everyone to unite behind him & his vision". Pakistan's candidate to be the next director-general of the World Health Organization , cardiologist Dr.
Bill Cosby in court for jury selection
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Sharif to attend 'Arab Nato' in Riyadh
The diplomatic meet between Sharif and Trump did not take place even as the Saudi Arabia was strongly backing the idea. During the summit, the prime minister added, he had an interaction with some other leaders as well.
Cris Cyborg-Angela Magana fight video emerges
Cris Cyborg just confronted Angela Magana for her numerous derogatory social media posts and things got heated. Lets be clear I did not call cops UFC did. "I was the victim of roid rage (Sunday)".
Salvador Sobral Of Portugal Wins Eurovision Song Contest
By the time the curtain falls on the 2017 contest, 1,479 songs will have been performed in total, according to Eurovision . Portugal also won the first Semi-Final on Tuesday, had the judged vote and the popular vote so the win was absolute.