India

Background

India became a State Participant of the African Development Fund on May 6, 1982 and was admitted to the membership of the African Development Bank on December 6, 1983. India’s collaboration with the Bank Group is articulated around 3 main pillars: ADF replenishment, bilateral trust fund, and co-financing arrangement in addition to the provision of resources for the implementation of the MDRI. Finance Minister and Secretary (Economic Affairs), Ministry of Finance, Government of India, have been designated as Governor and Alternate Governor respectively.

Joint initiatives

The Export-Import Bank of India, the Confederation of Indian Industry (CII), the Government of India and the AfDB co-sponsored the first India-Africa Partnership Project Conclave in New Delhi from March 2-4, 2008.
The Export-Import Bank of India sponsored four AfDB Business Opportunities Seminars in India in October 1997, November 2000, November 2004 and November 2008.

Formal agreements and financial contributions

A Technical Cooperation Agreement between the Government of India and the AfDB was signed in July 1998 worth 150 million Indian Rupees, equivalent to US$ 3.39 million. Within the framework of this cooperation, India has, to date, financed 30 projects with a total of US$ 3.05 million. Possibilities for the continuation of this initiative in its current form or alternatively to redesign it to extend replenishment for the creation of the Indian Trust Fund are being explored in consultation with the Bank.
India’s contribution to the Multilateral Dept Relief Initiative (MDRI) amounted to UA 14.11 million, constituting 0.242% of MDRI burden shares.
A Memorandum of Understanding (MOU) was signed between the Export-Import Bank of India and the AfDB in 1999.