Addressing the inaugural session of the 3rd India-Africa Forum Summit (IAFS) describing it as a "meeting of dreams of the one-third humanity under one roof", PM Modi said the heart beat of 1.25 billion Indians and 1.25 billion Africans is in rhythm and the partnership was 'beyond strategic concerns and economic benefits.'
Admitting that there are times when India has not done as well as they have wanted and not fulfilled commitments as quickly as it should have, he said the country will raise the level of its support for the vision of a prosperous, integrated and united Africa that was a major partner for the world.
"We will also offer a grant assistance of USD 600 million. This will include an India-Africa Development Fund of USD 100 million and an India-Africa Health Fund of USD 10 million. It will also include 50,000 scholarships in India over the next five years," the Prime Minister announced.
Noting that India has committed USD 7.4 billion in concessional credit and 1.2 billion dollars in grant since the first India-Africa Summit in 2008, PM Modi said it is creating 100 capacity-building institutions, and developing infrastructure, public transport, clean energy, irrigation, agriculture and manufacturing capacity across Africa.
During his nearly half-an-hour speech at the session, which was attended by 41 Heads of State and Government and hundreds of senior officials from 54 African countries, PM Modi called for stronger ties in the strategic areas of counter- terrorism and climate change as well as on UN reforms.

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