India is extending letters of credit (L/Cs) to western Africa's regional development bank as it seeks to deepen its engagement with the region.

The L/C facility is one of several Indian government interventions underpinning a surge in trade and investment between western Africa and India.

Trade and investment

India has been playing an increasing role in western Africa through its trade and investment activities in the oil and gas, education, healthcare, pharmaceuticals, mining and textiles sectors. It is also supporting infrastructure development.

India's trade with the region was worth US$25 billion last year and is expected to surge to US$40 billion by 2015 according to joint secretary of the Indian Council of World Affairs, Shamma Jain,

Business links

To help build its relations throughout Africa, Jain says that the Indian government has focused on developing links with Africa's regional economic communities, including the Economic Community of West African States (ECOWAS).

In this context, India has extended L/Cs worth US$500 million to the ECOWAS Bank for Investment and Development for different projects in western Africa.

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