India supports Central Africa with soft loans worth $2bn

India extended 'soft loans' worth USD 2 billion for projects in Central Africa, India's Permanent Representative to UN, Ambassador Ruchira Kamboj said as she underscored the cordial and friendly bilateral relations of New Delhi with the region.

"India has cordial and friendly bilateral relations with countries in Central Africa. We have enhanced our diplomatic presence in the region. Our development assistance and coordination has been steadfast," ambassador Kamboj said during the UNSC briefing.

"We have extended 'soft loans' worth USD 2 billion for projects in agriculture, transport, power and water supply to countries in the region," she added.

In her address, Kamboj noted that the political developments in the countries of the Central African region have been positive, marked by electoral processes, regular exchanges and collaboration between countries.

"The impact of COVID-19 pandemic, and now the protracted Ukraine conflict, are reversing the hard-won developmental gains thus far. With rise in prices of essential commodities and shortages of food, fuel, and fertilizers, basic needs have come under duress," she added.

(ANI)