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