India signed an agreement with the National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) for setting up the India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi, a landlocked country in southeastern Africa. The agreement is a part of India’s efforts to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries.
• IAIARD will be a Pan-African Institute wherein trainees from Malawi and other African countries will be trained to develop their human resources and build their capacity.
• The entire expenditure on India faculty, their travel, logistics and training course expenses for students from other African countries will be borne by the Indian Government for an initial period of three years.
• IAIARD will develop training programmes in the areas of micro-financing and agro-financing, among others
• This will be the first of its kind institute developed in an African country by India.
• This will further strengthen the bilateral relations between India and Malawi and that of India’s relations with the African Union.