“India has always maintained that progress in the world is contingent on the development of the global south, nowhere is that more evident than in Africa, and that is why we adapt as the most priority to the India-Africa partnership,” Jaishankar said.

The three-day virtual conference, with the theme Harnessing the Africa-India Opportunity- Connect, Create, Collaborate, was organized by the Confederation of Indian Industry (CII) and the India Exim Bank with support from the Ministries of External Affairs and Commerce and Industry. Sessions focused on healthcare including vaccine access and equity, and digitization of the information technology, tourism, and hospitality sectors.

Participants said India and Africa should boost efforts to improve access to medicines, including vaccines and other essential drugs to tackle Covid-19 and future pandemics. Other sectors where there is scope for investment and partnerships include clean energy and digital technology.

During a panel discussion, Solomon Quaynor, African Development Bank Group Vice President for Private Sector, Infrastructure and Industrialization, said an infrastructure-led recovery from the pandemic is critical for Africa; he added that the Bank is ready to partner with Indian firms to transform Africa’s healthcare.

The African Development Bank will invest up to $3 billion over the next 30 years to advance the manufacture of pharmaceuticals and the development of healthcare infrastructure across Africa, Quaynor said. The Bank has also been providing expertise to its members on preparing public-private partnerships and to deepen debt capital markets including through investment in pension funds and providing sovereign credit and partial risk guarantees.

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