India Increases Africa Lending in Race to Counter China
- Modi’s government has pushed for greater reach into Africa
- Using platforms like the G-20 to champion Global South
This article is for subscribers only.
Africa has become the second-largest recipient of credit from India as the country tries to catch up with China in expanding its influence in the resource-rich continent.
Forty two African nations received about $12 billion or 38% of all credit extended by India in the last decade — just a few percentage points below its neighbors, Harsha Bangari, the managing director of India’s Export Import Bank said in an interview.