Important Facts For Prelims
India Offers Agricultural Line of Credit to Kenya
- 09 Dec 2023
- 3 min read
Why in news?
Recently, India has announced a USD 250 million line of credit to Kenya for modernisation of its agricultural sector during the recent visit of Kenya’s President to India.
- A line of credit (LOC) is a predetermined borrowing limit that is accessible whenever necessary. The borrower can withdraw funds as required until reaching the established limit, and once repaid, the funds can be borrowed again in the case of an open line of credit.
What are the Key Highlights of the Recent Visit of Kenya’s President?
- India and Kenya signed five pacts providing for cooperation in a range of areas including sports, education and digital solution, and unveiled a joint vision document to scale up maritime engagement in the Indian Ocean region.
- India also raised the issue of two Indian nationals who went missing in the east African country last year.
- Both sides agreed to strengthen bilateral ties in the field of defense, trade, energy, digital public infrastructure and healthcare.
- Both sides deliberated on defense cooperation and emphasized on military exercises, capacity building as well as linking the defense industries of both the countries .
- Kenya invited Indian companies to take advantage of the conducive and attractive environment to invest in Kenya, especially in agriculture, manufacturing, pharmaceutical, health, green energy and green mobility sectors.
- Terrorism is the most serious challenge and both sides have decided to increase counter-terror cooperation
What are the Key Points Related to Kenya?
- Kenya is located in East Africa. Its terrain rises from a low coastal plain on the Indian Ocean to mountains and plateaus at its center.
- Kenya's location between the Indian Ocean and Lake Victoria means that people from all over Africa and the Middle East have traveled and traded across it for centuries.
- This has created a diverse culture with many ethnic groups and languages.
- The bones of one of the earliest human ancestors ever found were discovered in Kenya's Turkana Basin.
- Lake Turkana, the world's largest desert lake, is part of the Omo-Turkana basin, which stretches into four countries: Ethiopia, Kenya, South Sudan and Uganda.
- UN-Habitat maintains its headquarters at the United Nations Office at Nairobi, Kenya.
