INDIA: NBCC (India) Limited moved to a transformative leap in wildlife conservation and Eco-tourism infrastructure by signing a Memorandum of Understanding (MoU) with FDCM Gorewada Zoo Limited (FGZL), a Government of Maharashtra undertaking. The MoU pertains to the Development of the African Safari and Entrance Plaza at the Balasaheb Thackeray Gorewada International Zoological Park, Nagpur.

The MoU was signed by Shri Chandrasekharan Bala, CEO, FGZL, and Shri Pravin Tukaram Doiphode, Executive Director, NBCC, in the presence of Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra, who has envisioned this project as a symbol of Maharashtra’s commitment to conservation-led tourism and infrastructure excellence. Shri Ganesh Naik, Hon’ble Forest Minister of Maharashtra, Shri Naresh Zurmure, MD, FGZL, Shri. K.P. Mahadevaswamy, CMD, NBCC, Shri Vikas Kharge, Additional Chief Secretary to Hon’ble Chief Minister of Maharashtra, Shri Milind Mhaiskar, Additional Chief Secretary, Shri Vivek Hoshing, Deputy Secretary, Forests, Government of Maharashtra, and senior officials from both NBCC and FDCM Gorewada Zoo Limited were also present during the occasion.

As the implementing agency, NBCC (India) Limited shall be responsible for the planning, design, execution, and overall development of the African Savannah Safari, Kop-je walk trail replicating the unique granite formations of Central Africa, and the Entrance Plaza. The project, estimated at Rs. 355 Crore, is set to deliver a world-class wildlife experience to be implemented in an area of approximately 63 hectares. This will include development of African zoo, safari plaza, animal hospital, and quarantine centre, theming works, landscaping & plantation, and a sewerage system including STP. The scope also includes other allied works such as water supply, service area development, furnishing, interior & visitor amenities, etc. The visitor-friendly entrance plaza will include food courts, scenic areas, ticket counters, an interpretation centre, and a 6-hectare parking area accommodating over 1,900 vehicles. NBCC will also incorporate eco-sensitive and sustainable design elements in alignment with global zoological standards.

The African Safari component of the project will feature an authentic replication of African ecosystems, making it a first-of-its-kind initiative in India. The zoo will be home to over 30 iconic African species, including Giraffe, Burchell’s Zebra, Impala, Gemsbok, Kudu, Blue Wildebeest, Common Eland, Hippopotamus, Ostrich, African Lion, White Rhinoceros, Cheetah, Spotted Hyena, Red River Hog, Chimpanzee, Hamadryas Baboon, Patas Monkey, Ring-Tailed Lemur etc.

This unique layout will provide a drive-through safari and a walking trail, ensuring close encounters and immersive experiences for visitors while maintaining the highest standards of animal welfare and safety.

This African Safari is more than a tourist attraction—it’s a statement. It aligns with NBCC’s vision of delivering high-impact infrastructure that empowers local economies, promotes conservation awareness, and showcases India’s capability to replicate global standards with indigenous expertise.

By bringing a glimpse of Africa to India, NBCC is reaffirming its place at the forefront of nation-building, not just by constructing infrastructure, but by crafting legacies.

The post African Safari to Make Its Debut in India appeared first on NRI News.

ADDIS ABABA, ETHIOPIA: The African Development Bank Group (www.AfDB.org) has launched a series of training programs to support 22 Transition or fragile states in Africa to manage their debt more effectively.

The Public Finance Management Academy for Africa (PFMA), an initiative of the Bank Group’s African Development Institute, kicked off the maiden edition of the PFMA Spotlight on Public Debt Management in Transition States – a two-day policy dialogue on sustainable debt management tailored to the needs of Africa’s 22 most vulnerable countries in Addis Ababa on Tuesday.

The program will help countries build their institutional capacity to better manage debt and achieve the financial resilience needed for development.

The series brings together heads of debt management offices, treasurers and accountants general, heads of revenue authorities, representatives of central banks, supreme audit institutions, anti-corruption agencies, civil society organizations, academia, the private sector, lawmakers, and other relevant stakeholders in transition states.

Ethiopia’s Minister of State for Finance and Economic Cooperation, Semereta Sewasew, said that while there have been positive strides in debt management on the continent, debt challenges, and vulnerabilities persist, especially in most transition countries. These countries face a wide range of political, economic, security, and environmental challenges, she noted. “I am pleased that the African Development Bank has designed this training program to help develop and strengthen the capacity of these countries to manage their debt more prudently, to make their debt more productive, and restore resilience, stability, and growth to their economies.”

Sewasew told participants that the Government of Ethiopia had made substantial progress in improving the country’s economy, particularly in addressing debt challenges. She commended the African Development Bank as a steadfast partner in this process.

“Our government will continue to work with the African Development Bank and support its programs not only for Ethiopia but for the entire continent, especially in improving debt management, transparency, and sustainability,” Sewasew said.

Public debt vulnerability remains a persistent challenge for Africa. According to the IMF, of 54 African countries, 38 low-income countries were classified as being either in debt distress, with high debt distress, or with moderate debt distress. Of these 38, 23 are transition states.

Mounting debt is compounded in transition states by fragility, the absence or shallowness of domestic debt markets, and weak institutional capacity for governance, public finance, and debt management.

The African Development Bank’s Deputy Director General for East Africa and Director General designate for Nigeria, Abdul Kamara, said the training was part of the implementation of the Bank’s Special Project – Strengthening the Capacity of Transition States for Effective Management and Mitigation of Debt Distress Risks. The project is being implemented from April 2023 to March 2026, for 22 transition countries in Africa under the Bank’s Transition Support Facility.

“We believe that together we can do even more for our countries,” Kamara said. “We expect that at the end of these two days, participants will have, among other things, an understanding of best-practice solutions tailored to their particular debt management circumstances.”

Director of the African Development Institute, Eric Ogunleye, said: “African transition countries should not be mere loan takers  – they are disadvantaged. Hence, they need to be empowered to contract, negotiate, and use loans to improve the quality of life of their citizens.“

The post African Development Bank Strengthens Transition States Capacity Targeting Productive Effective And Transparent Debt Management appeared first on NRI News.

Throughout the five-day meetings, held in the Kenyan capital, Nairobi, shareholders approved a $117 billion callable capital increase, raising the Bank’s total capital to $318 billion. This boost is intended to strengthen the Bank’s capacity for interventions across Africa.

“This is a major demonstration of the faith, of the confidence that our shareholders have in us,” said Bank president Akinwumi Adesina. “Their confidence in our ability to use resources well, their confidence in our ability to mobilize more capital with what we have, and it will give us more liquidity as a bank to be able to do more.”

The theme of this year’s event, held from 27 – 31 May, was “Africa’s Transformation, the African Development Bank Group, and the Reform of the Global Financial Architecture.” Adesina emphasized the necessity for a fairer and more equitable global financial architecture and climate finance system, ensuring it benefits the countries that need it most.

The event saw Kenya pledging $20 million to the African Development Fund, the concessional window of the Bank Group serving 37 low-income countries. This pledge makes Kenya the largest regional member country contributor to the fund.

This year’s meetings attracted over 10,000 participants from Africa and beyond and marked the launch of the Bank’s 60^th anniversary celebrations. Delegates included several African heads of state and government, Bank governors, executive directors, senior government leaders, development partners, academia, and civil society representatives.

Apart from statutory meetings, the event featured several side events and knowledge-sharing dialogue sessions, led by African and global experts. The Bank’s flagship African Economic Outlook report was also unveiled, revealing that African economies are demonstrating resilience despite challenging economic conditions. The report noted an average GDP growth of 3.7 percent for 2024, with a projected increase to 4.3 percent in 2025.

Adesina underscored the importance of Africa being central to the global financial architecture: “The Bank must continue to lead that charge. We need to be at the table. As Africans, we should believe in ourselves and write a new narrative for Africa. The growth of Africa will support the growth of the world with Africa at its heart.”

There was consensus that to achieve Africa’s structural transformation, there is a need to improve the macroeconomic environment, domestic resource mobilization, tax collection, digitalization, formalizing the informal sector, tackling illicit capital flows and corruption, and improve the capacity of countries to better negotiate taxes and royalties from their vast natural resources.

Shareholders also strongly endorsed the creation of an African credit rating agency, designed to better understand and fairly assess the continent’s conditions.

“That African rating agency is not going to be a replacement for the global rating agencies,” Adesina explained. “What the heads of state are saying is they want a counterpart institution that understands the conditions in the continent better.“

Adesina stressed the need for reform in the global rating system: “The global rating system has to change. We need to create a fair response that rates African countries properly and with equity. Africa is not asking for a pass, but there needs to be a fair process that rates African countries properly. It’s about fairness, it’s about equity, it’s about making sure that both sovereign and non-sovereign are rated properly.”

In the final Communique, the Bank’s Governors, representing shareholders, highlighted several positive developments, including the Bank’s efforts to enhance food and nutrition security in Africa through its Feed Africa Strategy. They also expressed confidence in Africa’s ability to build a green energy infrastructure while pursuing a low-carbon future.

The Communique underscored the need for increased private sector investments to accelerate Africa’s transformation. It called on the Bank’s management to further strengthen support for regional member countries to help them achieve sustainable development goals.

The Governors welcomed efforts to secure over $1.5 billion in financing through the Affirmative Finance Action for Women in Africa (AFAWA) and to mainstream gender across all operations.

The Nairobi gathering marked the 59^th Annual Meeting of the Board of Governors of the African Development Bank and the 50^th Meeting of the Board of Governors of the African Development Fund.

The meetings concluded with Kenya’s Cabinet Secretary for National Treasury and Economic Planning, Prof. Njuguna Ndung’U, chair of the 2024 event, handing over the baton to Côte d’Ivoire’s Minister of Economy, Planning, and Development, and Bank Governor, Niale Kaba, as the country prepares to host the 2025 Annual Meetings in Abidjan from May 26 to May 30, 2025.

The Bank will climax activities marking its 60^th anniversary in September.

The post African Development Bank Group Concludes 2024 Annual Meetings with Enhanced Mandate And Capital Boost To $318 bn appeared first on NRI News.

INDIA: In the last few years, Azerbaijan has seen a tremendous influx of Indian tourists visiting the country. A recent study indicated that the number of Indian visitors traveling to Azerbaijan almost doubled to 120,000 in 2023, which is a 100% increase in tourism as compared to the previous year.*

To cater to this attractive destination, leading telecom operator Vi has announced new international roaming packs for Azerbaijan and 12 other African countries. Vi Postpaid users traveling to Azerbaijan and African countries such as Cameroon, Sudan, Rwanda, Ivory Coast, Liberia, (Equatorial) Guinea, Swaziland, South Sudan, Benin, Uganda, Zambia, and Guinea Bissau, can now enjoy seamless connectivity with international roaming packs starting at just Rs 749.

Vi Postpaid users will have a variety of options including a 24-hour pack, a 10-day pack, a 14-day pack, and a 30-day pack to stay connected while traveling abroad. Vi also has an ‘ALWAYS ON’ feature which protects users from high International Roaming Charges for any usage after pack expiry.

Vi is committed to providing the best international roaming packs tailored to meet the needs of every traveler. With these added countries, Vi users can avail hassle hassle-free international roaming packs at value prices in 117 countries worldwide.

To know more about Vi international roaming packs, click here: https://www.myvi.in/international-roaming-packs. You can also download the Vi App, and choose the perfect roaming plan to fuel your next adventure. The world awaits—let Vi be your guide to boundless exploration!

*According to a report by India Outbound Magazine

The post Vi Introduces Postpaid Roaming Packs For Azerbaijan And Select African Countries for Worry-Free Travel appeared first on NRI News.