India increases Africa lending in the race to counter China
India has become the second-largest creditor to Africa, lending around $32bn to 42 African countries over the past decade. India's loans to Africa are just a few percentage points below China’s, which pledged $134.6bn in loans to African nations over the same period. India has opened 195 project-based lines of credit worth about $12bn in Africa in the past decade and has 18 new embassies in the region.
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