Indian EXIM bank plans development company in AfDB

The Export-Import Bank of India (EXIM) is planning to set up a project development company with the African Development Bank (AfDB) to encourage public-private partnership (PPP) projects in Africa, reports Indian news agency, IANS.
Yaduvendra Mathur, chairman and managing director of the export finance institution, was quoted as saying: "We have been working very closely with AfDB to explore possibilities of setting up a project development company with AfDB. This company will target bankable projects in Africa.”
He reportedly told IANS in an interview that discussions with AfDB had been ongoing for a year and he hoped this would be implemented quickly. “This project development company is to encourage public-private-partnership in Africa," Mathur said in an interview.
The Indian government’s objective is for trade with Africa to reach $200 billion by 2020.
"The African continent is one of most important partners for the country and 11 fastest growing economies in the world are in Africa. We are looking at infrastructure development in Africa, the big project exports. We are encouraging the entire private sector in India to get into these sectors," Mathur was quoted as saying.