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Reading: India approves $200 million defence credit score line for Angola; to collaborate in digital public infrastructure
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StockWaves > Business > India approves $200 million defence credit score line for Angola; to collaborate in digital public infrastructure
Business

India approves $200 million defence credit score line for Angola; to collaborate in digital public infrastructure

StockWaves By StockWaves Last updated: May 3, 2025 3 Min Read
India approves 0 million defence credit score line for Angola; to collaborate in digital public infrastructure
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Prime Minister Narendra Modi on Saturday welcomed Angolan President Joao Manuel Goncalves Lourenco to India–the first such go to in 38 years–underscoring a renewed dedication to deepen bilateral ties and increase cooperation throughout sectors.

Marking 40 years of diplomatic relations, PM Modi hailed the historic solidarity between the 2 nations, and outlined a roadmap for future collaboration in vitality, defence, digital infrastructure, healthcare, and cultural alternate.

At a joint press assertion with Angolan President, PM Modi stated, “I welcome President Lourenco and his delegation. 

It is a historic second. After 38 years, the President of Angola has arrived in India. His go to shouldn’t be solely going to present a brand new course to the connection between India and Angola, but in addition going to strengthen India-Africa ties. 

India and Angola are celebrating the fortieth anniversary of their political relations. Nevertheless, our relationship goes method again. When Angola was preventing for its freedom, India was standing beside it with religion and friendship.”

Talking in regards to the partnership between the 2 nations, PM Modi acknowledged, “We’re partnering throughout sectors. India is among the largest consumers of oil and gasoline from Angola. We’ve determined to widen our vitality partnership. India has authorised a USD 200 million credit score line for the modernisation of Angola’s defence forces. We are going to share our expertise in digital public infrastructure, area tech and capability constructing with Angola.”

He added, “We might be completely happy to help in coaching Angola’s armed forces. Taking ahead our improvement partnership, we are going to share our capabilities with Angola in digital public infrastructure, area know-how and capability constructing. At the moment, we’ve additionally determined to additional strengthen our ties in healthcare, diamond processing, fertilizer and demanding minerals.

The recognition of yoga and Bollywood in Angola is a logo of the energy of our cultural ties. To strengthen our people-to-people relations, we’ve determined to start out a youth alternate programme amongst our youth.”

Earlier within the day, PM Modi met President Lourenco at Hyderabad Home.

PM Modi, together with Exterior Affairs Minister S Jaishankar and International Secretary Vikram Misri, additionally held a bilateral assembly with President Lourenco at Hyderabad Home. 

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