Kenya, India sign multimillion dollar trade agreements

By Magdalene Mukami

NAIROBI, Kenya (AA) – Indian Prime Minister Narendra Modi who arrived in Kenya on Sunday has signed a total of seven trade deals with Kenya amounting to $44.4 million.

Together with the Indian prime minister, Kenyan leader Uhuru Kenyatta inked the multimillion dollar deals that aims to revive Kenya's Rift Valley textile industry and promote the development of small and medium enterprises.

“The bonds between the two countries are long-standing and rich. [...] As a true and trusted partner, India is ready to share its development experiences, expertise and capacities to assist in Kenya,” said Modi.

In a statement, Kenyan leader Uhuru Kenyatta said that the bilateral deals between his country and India will boost cooperation tourism, defense, immigration, trade and agriculture.

“The two pacts -- which were part of the seven deals signed today -- were Line of Credit Agreement for $15 million to the Industrial Development Bank Limited IDB for development of small scale and medium enterprises and Line of Credit Agreement for $29.95 million to Kenya to upgrade the Rift Valley Textiles (Rivatex) factory.”

Other agreements signed between the two countries included defense cooperation.

The Indian prime minister also said that India had offered to fund the construction of a cancer hospital in Kenya.