India to offer Africa $5b credit to nurture trade

Prime Minister Manmohan Singh told African leaders yesterday that India will make loans to nurture economic growth on the continent where China is already a big step ahead.
The south Asian country will notably offer African nations $5 billion in credit lines over three years, he told a trade summit here.
"Africa possesses all the prerequisites to become a major growth pole of the world in the 21st century. We will work with Africa to enable it to realise this potential," Singh said.
He said India will offer five billion dollars of credit lines to African nations over the next three years.