India commits $6.7 mn to African bank

India has agreed to donate USD 6.7 million to the African Development Bank (AfDB) to conduct studies on the development projects in the continent.

“India has committed a support of USD 6.7 million to the African Development Bank for the study of development projects in Africa,” a senior finance ministry official said.

The funding support will take effect from January 1,2011 and will extend over a period of three years.

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The Tunis-based AfDB said the donation will enable the regional development bank to conduct studies in the transport sector,particularly in the field of railways.

“There is also the field of telecommunications,higher education and private sector development,” AfDB vice president Aloysius Ordu said in a statement.

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