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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Obama visits family roots in Ireland | 23 May 2011 Lauren, Scotty bring country to "American Idol" finale 6:02am EDT UPDATE 1-Pakistan media ridicules military after attack 8:37am EDT Obama to view tornado zone in Missouri on Sunday 8:19am EDT How did six Taliban hold off 100 security forces for 16 hours? 9:18am EDT Discussed 325 Obama and Netanyahu face tense meeting on Mideast 124 As hours tick by, ”Judgment Day” looks a dud 103 Broadcaster silent as Judgment Day hours tick by Watched Plankers get fired for stunt Sun, May 22 2011 Arnold Schwarzenegger's mystery woman identified Thu, May 19 2011 Deadly Missouri tornado captured on video Mon, May 23 2011 India offers $5 billion to Africa in bid to boost ties Tweet Share this By Aaron Maasho ADDIS ABABA (Reuters) - India stepped up its push to deepen its economic ties with Africa and emerge from the shadow of rival China by offering $5 billion to help the continent rich with minerals and commodities. At an address to an... Email Print Related News StanChart sees growth in India M&A financing 9:42am EDT Analysis & Opinion In to Africa: The road more travelled In to Africa: Travel security Related Topics World » China » By Aaron Maasho ADDIS ABABA | Tue May 24, 2011 9:42am EDT ADDIS ABABA (Reuters) - India stepped up its push to deepen its economic ties with Africa and emerge from the shadow of rival China by offering $5 billion to help the continent rich with minerals and commodities. At an address to an India-Africa summit in Addis Ababa on Tuesday, Indian Prime Minister Manmohan Singh trumpeted his country's historical ties with Africa in his attempt to catch up with Beijing's growing influence on the continent. Rival emerging economies India and China are scouring the globe to secure energy resources, minerals and food. Both are keen to stress to African nations that they are more than just trade partners and want to help the continent develop. "There is a new economic growth story emerging from Africa. Africa possesses all the prerequisites to become a major growth pole of the world," Singh told a gathering of African Union leaders in a speech in Ethiopia's capital Addis Ababa. "The India-Africa partnership is unique and owes its origins to history and our common struggle against colonialism, apartheid, poverty, disease, illiteracy and hunger." Singh, who is on a six-day trip to Africa that began on Monday, is pledging development support in exchange for trade agreements to fuel growth in India's resource-intensive economy, and boost the presence of Asia's third-largest economy which lags China in the world's poorest continent. "We will offer $5 billion dollars for the next three years under lines of credit to help Africa achieve its development goals," Singh said. In January 2010, India said it would increase credit lines to Africa to $5.4 billion until 2012 from $2.15 billion. BOOST INFRASTRUCTURE At the gathering, Singh said his country would boost support for infrastructure projects, regional integration, skills training and human resource development. Singh said India would offer an additional $700 million for new institutions and training programs and a further $300 million for a new Ethiopia-Djibouti railway line. Delhi, whose merchant ships have been ravaged by Somali pirates on the Indian Ocean, also offered $2 million to the African Union's mission in the lawless Horn of Africa nation, where they are fighting Islamist insurgents battling to overthrow an internationally recognized government. Chinese companies are busy building roads across the continent, investing in the energy sector and are active in areas such as telecoms technology. Both nations are also trying to extend their influence in Africa as they emerge as economic powers and appear keener to flex their diplomatic muscle. India is trying to increase it presence on the continent as well as get African support for its bid for a permanent place on the U.N. Security Council, as the body is reformed to include emerging powers and developing nations. Total bilateral trade between India and African countries stood at $46 billion last year, a huge increase on $3 billion in 2000-1. Volumes are estimated to reach $70 billion by 2015, India's Trade Minister Anand Sharma said on Saturday. China's bilateral trade with Africa already stood at $107 billion back in 2008. India's state-run oil firms are beginning to invest in countries including Nigeria and Kenya, while China has pumped billions of dollars into Sudanese oil, mineral-rich Zimbabwe, and Zambia's mining sector, among other countries. Singh will travel on Thursday to Tanzania, where Delhi has also invested heavily during the past few years. Singh appealed to the African leaders, saying India will work with Africa to realize the continent's potential. The first India-Africa summit was held in Dehli in 2008. "It is the first time that the leaders of India and Africa are meeting on such a scale on African soil," he said. We believe that a new vision is required for Africa's development and participation in global affairs. We do not have all the answers, but we have some experience in nation building which we are happy to share with our African brothers ..." World China Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. 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