India, Kenya ink seven agreements to deepen and expand cooperation

India and Kenya have signed seven agreements to deepen and expand cooperation in a wide range of areas.
These agreements were signed in the presence of Indian Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta in Nairobi.
PM Narendra Modi visited Kenya on the fourth and last leg of his four-nation tour of Africa viz. Mozambique, South Africa, Tanzania and Kenya.
Signed Agreements are

• MoU on Defence Cooperation.
• MoU in the field of space Technology partnership.
• Revised Double Taxation Avoidance Agreement (DTAA).
• Bilateral agreement on exemption of Visa for holders of Diplomatic passports.
• MoU on Cooperation in the field of National Housing Policy Development and Management.
• MoU on Cooperation in the field of expertise sharing, standardisation and mutual trade between Bureau of Indian Standards (BIS) and Bureau of Kenya Standards (BKS).
• Line of Credit (LoC) Agreement for US $29.95 million to Kenyan Government for upgradation of Rift Valley Textiles Factory (RIVATEX East Africa Limited) in Kenya.
• LoC Agreement for US $15 million (first tranche of $30 million) to Kenya’s IDB Capital Limited for development of small and medium enterprises (SMEs) in Kenya.

Besides, PM Narendra Modi also announced that

• India will fully finance a cancer hospital in Kenya. India will also donate medicines for AIDS patients in Kenya.
• India would provide concessional credit of 60 million dollars for power transmission project to Kenya.
• India is ready to join hands with Kenya for developing efficient and affordable health care system to make it an important regional hub for health services in East African region.

Month: Current Affairs - July, 2016