AfDB–India Alliance Targets Scalable Growth Ahead of 2026 Africa Summit
The African Development Bank Group and India are strengthening cooperation on digital systems, industrial development and finance ahead of the fourth India-Africa Forum Summit, set for 31 May 2026 in New Delhi.
The renewed engagement reflects a growing partnership aimed at accelerating economic transformation across Africa, with a focus on expanding access to capital, improving digital infrastructure and supporting industrialisation.
India, a member of the Bank Group since 1983, has contributed to all general capital increases, helping boost the institution’s capacity to finance infrastructure, development projects and economic recovery across its regional member countries.
Economic ties between India and Africa have expanded significantly, with bilateral trade nearing $100 billion in 2024–25 across sectors such as energy, agriculture, infrastructure and technology.
Between 2020 and 2025, Indian companies secured 173 contracts worth approximately $760 million under Bank-financed projects, accounting for 5.3 per cent of total procurement. The participation has enhanced project delivery capacity while opening up further opportunities for private sector involvement.
A Bank delegation led by Vice President Solomon Quaynor visited India in September 2024 to explore new investment prospects and deepen commercial partnerships, particularly in pharmaceuticals, agriculture and technology.
Digital public infrastructure remains a key pillar of the partnership. India contributed $2 million to the African Digital Financial Inclusion Facility in 2023 and signed a $6 million third phase of the India Trust Fund in 2024.
These investments support the rollout of digital payment systems, interoperability frameworks and broader access to financial services across African countries.
The impact of such initiatives is already visible. In Mauritania, modernised financial systems supported by $4.78 million from the African Development Fund have helped increase financial inclusion rates from 21 per cent to 55 per cent.
Cooperation is also expanding in healthcare and manufacturing, particularly in strengthening local pharmaceutical production. Africa faces an estimated $111 billion investment gap in the pharmaceutical sector by 2030.
Through initiatives such as the African Pharmaceutical Technology Foundation, the Bank Group is supporting technology transfer, local manufacturing and improved supply chains to reduce dependence on imports.
India’s global expertise in vaccine and pharmaceutical production is expected to play a significant role in advancing these efforts through industrial partnerships and knowledge sharing.
