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India, Kenya sign seven pacts

Modi arrived in Kenya on Sunday from Tanzania on the fourth and final leg of his four-nation Africa tour

Policy Pulse
Publish Date: Jul 11 2016 4:49PM | Updated Date: Jul 11 2016 4:49PM

India, Kenya sign seven pacts

 India and Kenya signed seven pacts on Monday after delegation-level talks led  by Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta.

 
Two sides signed agreement  in the area of defence cooperation.
 
Another pact calls for cooperation in the field of standardisation, expertise sharing and mutual trade between Bureau of Indian Standards and Bureau of Kenya Standards.
 
A third ageement was signed for cooperation in the field of national housing policy development and management. 
 
India will extend a line of credit of $15 million (first tranche of $30 million) to IDB Capital, Kenya, for development of various small and medium enterprises [SMEs] in the east African country.
 
A pact was also signed for extension of a line of credit of $29.95 million by India to the Kenyan government for upgrade of Rift Valley Textiles Factory (RIVATEX East Africa Limited), Kenya.
 
Both sides signed a revised Double Taxation Avoidance Agreement.
 
Prime Minister Modi arrived in Kenya on Sunday from Tanzania on the fourth and final leg of his four-nation Africa tour.