Sat, Dec 10, 2016 | updated 02:18 PM IST

India, Kenya ink seven agreements

Updated: Jul 11, 2016 21:45 IST

Nairobi (Kenya), July 11 (ANI): India and Kenya on Monday signed seven agreements to strengthen ties between the two nations.

Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta witnessed the signing of agreements here.

The list of MoUs signed between the two nations are MoU on Defence Cooperation, MoU on Cooperation in the field of National Housing Policy Development and Management and MoU between Bureau of Indian Standards and Kenya Bureau of Standards, Agreement on Exemption of Visa for holders of Diplomatic Passports.

The other agreements include Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, Line of Credit Agreement for US$ 15 million to IDB Capital Limited, for development of small and medium enterprises [SMEs] and Line of Credit Agreement for US$ 29.95 million to the Government of Kenya for upgrade of Rift Valley Textiles Factory (RIVATEX).

In a joint statement issued following bilateral talks, both the leaders hailed the warm and cordial relations between Kenya and India and agreed that the state visit provided an excellent opportunity to reinvigorate bilateral collaboration and explore new areas with a view to intensify cooperation on bilateral, regional and multilateral issues.

The two leaders also reiterated their commitment to the continued expansion of these excellent ties and to impart a fresh momentum for cooperation in all areas of mutual interest.

"On development assistance, India proposed to extend Lines of Credit (LoC) for Geothermal Projects and for agricultural mechanisation. President Uhuru Kenyatta welcomed India's offer and observed that the proposed LoCs would boost investment in these sectors. The President lauded the signing of US$ 29.95 million LOC to upgrade of Rift Valley Textiles Factory (RIVATEX) and the US$ 15 million LOC to IDB Capital Limited, for development of small and medium enterprises [SMEs). He also appreciated the power transmission line projects being executed by Indian companies under a Line of Credit of US$ 61.6 million," both nations said in the joint statement.

Apart from this, five B2B documents were also signed between the two nations.

Ministry of External Affairs (MEA) official spokesperson tweeted the list of the documents which include documents agreements between Apollo Hospital and Kenyatta National Hospital, agreement between Apollo Hospital and Airtel Africa, agreement between Ruby Hall Clinic and Africa Medicity, agreement between Dactari Total Healthcare and Commercial Bank of Africa and renewal of MoU between FICCI and KNCCI. (ANI)