THE MINISTER FOR EXTERNAL AFFAIRS
(SHRIMATI SUSHMA SWARAJ)
(a) to (e) A Statement is laid on the Table of the House.
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STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (e) OF THE LOK SABHA STARRED QUESTION NO. 260 REGARDING “INDIA-AFRICA SUMMIT” FOR ANSWER ON 11.05.2016
Under the IAFS, India has so far offered Lines of Credit worth US$ 7.512 billion. Out of this US$ 2.916 billion have been approved and allocated. This includes a total of 120 projects in 39 countries. A total of US$ 1.996 billion has been disbursed. 23 projects have been completed successfully. A list showing the amount of aid/assistance given to each African country since IAFS-I is enclosed at Annexure.
The Government of India had also announced grant worth US$ 500 million, US$ 700 million and US$ 600 million during IAFS-I, IAFS-II and IAFS-III respectively for setting-up of various training centres and providing various training to Africans. Projects undertaken utilising the grants are at various stages of implementation.
The extension of IDEA Scheme for African countries is an important component of India’s diplomatic strategy and has been useful in generating goodwill and building long term partnerships. The positive image developed by India assists the Indian industry in projecting itself as viable and technologically sound partners of developing countries. The IDEA Scheme also helps to boost Indian exports of goods and services to hitherto untapped markets and successfully showcase India''s expertise in project planning and implementation in diverse sectors.
Several changes have been made in the operational guidelines such as making a Detailed Project Report or Feasibility Study essential for project proposals, strengthening of monitoring system, pre-qualification of competent companies and requirement of regular reports by the borrowing governments. In addition, regular monitoring is also being carried out by borrowing Governments, Project Management Consultants (PMCs), implementing agency and Indian Missions abroad to ensure projects are executed in a timely manner. The commitments made under IAFS-III have been duly communicated to the respective implementing Ministries/organisations for ensuring timely implementation of various projects and programmes.
The revised IDEA Scheme and revised guidelines on economic assistance include provisions to provide better terms of credit, which will be attractive to many developing countries, who are now seeking alternative means of finance. These changes are expected to improve the implementation of projects undertaken through these Lines of Credit under the revised IDEA Scheme, thereby helping to achieve the India’s objectives.
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