India extends 222 LoCs worth $14.07 bn in Africa, 37 LoCs to neighbours

India continues to engage with its neighbour nations as well as Africa through development assistance as New Delhi has extended 222 lines of credit (LoCs) worth $14.07 billion covering as many as 357 projects in 42 African nations, The Times of India reported on Monday. India has extended 37 LoCs worth $14.27 billion covering 162 projects to five nations in the neighbourhood. 

The LoCs projects in African nations are spread across sectors roads, railways, power, ports and shipping, education, telecom, health, and aviation, the government has stated. 

The resource-rich continent (Africa) plays a particularly important role in India’s foreign policy