Africa50 Infrastructure Fund

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Africa50 Infrastructure Fund

Power Grid Corporation of India Limited has signed a joint development agreement with Africa50.

The agreement will allow the Kenya Transmission Project to continue development on a public-private partnership (PPP) basis.

(Africa50 Infrastructure Fund) Africa-50 is an infrastructure investment platform. It is a part of the African Union’s Agenda 2063. It aims to bridge the gaps in Africa’s infrastructure funding.

Importance of agreement:

  • The interdependence between India and Africa is increasing. Due to this, the relationship between India and African countries is becoming very important in this era of rapidly increasing globalization.
  • In this the energy sector has attracted special attention, as this sector has played an important role in India-Africa relations.

Source – The Hindu

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