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- India has signed a memorandum of understanding (MoU) 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.
- IAIARD will be a Pan-African Institute wherein trainees from all African countries will receive training to build their capacity.The entire expenditure on faculty from India,the travel,logistics and training course expenses for students from other African countries will be borne by the Government of India for an initial period of three years.
- The agreement is a part of India’s efforts to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries.This will further strengthen the bilateral relations with Malawi and India’s relations with African Union.
- NABARD Consultancy Services (Nabcons) is a fully owned subsidiary promoted by National Bank for Agriculture and Rural Development (NABARD).It is engaged in providing consultancy in all spheres of agriculture,rural development and allied areas.It is registered under the Companies Act,1956.
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