New Delhi, India – December 5, 2023 – In a significant move to bolster bilateral cooperation and support Kenya’s agricultural development, Indian Prime Minister Narendra Modi has announced a USD 250 million Line of Credit (LoC) to the East African nation. This announcement came during a meeting with Kenyan President William Samoei Ruto, who is currently on a three-day visit to India aimed at strengthening ties between the two countries.
Prime Minister Modi expressed confidence that President Ruto’s visit will foster deeper relations and propel India’s engagement with Africa to new heights. Both leaders underscored the importance of enhanced cooperation in the Indo-Pacific region and emphasized the need for a coordinated approach to address global challenges.
The USD 250 million LoC will be utilized to modernize Kenya’s agricultural sector, a crucial pillar of the country’s economy. The funds will be directed towards initiatives that enhance productivity, improve post-harvest management, and strengthen market linkages. This support aligns with India’s longstanding commitment to promoting agricultural development in Africa.
President Ruto lauded India’s unwavering support for Kenya’s development aspirations and expressed gratitude for the LoC. He also highlighted the potential for further collaboration in areas such as trade, investment, and infrastructure development.
The meeting between Prime Minister Modi and President Ruto marks a significant milestone in India-Kenya relations, underscoring the shared commitment to fostering mutual prosperity and regional stability. The LoC for agriculture modernization is a tangible manifestation of this deep-rooted partnership and its potential to transform the lives of Kenyan farmers.
