Mumbai: With an eye on China, Japan International Cooperation Agency (JICA) and the Export-Import Bank of Korea (KEXIM) have separately evinced interest in partnering with India for financing projects in places such as Africa.

This assumes significance in the backdrop of China’s ambitious ‘One Belt One Road’ (OBOR) initiative aimed at connecting around 60 countries across Asia, Africa and Europe.

India has also been trying to strengthen ties with resource-rich Africa, where its strategic rival China has built a formidable presence in recent years. A case in point being India’s plans to open new missions in 18 African countries, to increase the number of resident Indian missions in Africa from 29 to 47.

“Japan and South Korea want to partner with India for funding projects in other nations. JICA has shown interest in funding projects together. Also, South Korea wants to partner with us for financing projects in places such as Africa," said an Indian official, requesting anonymity.

Once seen as a key influence in Africa, especially in the 1960s-1980s, when it supported the Independence and decolonisation movements, India has seen its prominence fade, primarily supplanted by China. India’s influence on Africa also declined given its new-found focus in building closer ties with developed economies for investments and technology.

There has also been apprehensions over Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) being leveraged by China for its Belt and Road Initiative. “Such partnerships will add strategic heft to us," the official added.

The informal talks with JICA and KEXIM follow the proposed ‘Asia Africa Growth Corridor’, which had first found place in the joint declaration by Prime Minister Narendra Modi and Japanese Premier Shinzo Abe in November 2016. At the India-Africa Forum Summit 2015, Modi had also announced a $10 billion line of credit.

AIIB vice president and corporate secretary, Sir Danny Alexander on Sunday said: “Our bank is apolitical. We don’t comment on the internal affairs of any member country, India or anybody else. What drives our investments is projects, not politics."

Japan has been helping India with some of the infrastructure projects, such as the Mumbai-Ahmedabad high-speed rail corridor, or bullet train, which will be funded by JICA. Japan has also joined hands with India to aggressively develop infrastructure projects in the northeastern states. KEXIM on its part has plans to extend an export credit of $9 billion for infrastructure development in India and for the supply of goods and services as part of projects in third countries.

In response to direct queries, a JICA spokesperson referred to a 7 September 2016 statement of Japan’s ministry of foreign affairs, following the summit meeting between Abe and Modi. “PM Abe had explained the Free and Open India and Pacific Strategy, and had stated that India was the most important country in terms of linking Asia and Africa and that he hoped Japan and India would coordinate closely to make this concept a reality," the spokesperson said.

Email queries to India’s ministries of external affairs and finance and embassies of Japan and South Korea in New Delhi on late Saturday evening remained unanswered.

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