- Ahead of the sixth European Union- African Union summit, the EU has revealed a hefty investment plan for Africa.
- The European Commission President Ursula von der Leyen at her recent meeting in Dakar with President Macky Sall revealed a more than 171-billion-dollar investment plan for Africa through the Africa-Europe programme.
- She was in Senegal to prepare for the EU AU summit scheduled on February 17-18.
Ahead of the sixth European Union- African Union summit, the EU has revealed a hefty investment plan for Africa. The European Commission President Ursula von der Leyen at her recent meeting in Dakar with President Macky Sall revealed a more than 171-billion-dollar investment plan for Africa through the Africa-Europe programme. She was in Senegal to prepare for the EU AU summit scheduled on February 17-18.
The plan she said is the first regional plan under the Global Gateway scheme launched two months back and will be led by the European team and implemented in partnership with Africa. The objective of the European Union’s Global Gateway investment scheme, is regarded as a response to China’s Belt and Road initiative. The objective is to mobilise investments of up to 340 billion dollars for public and private infrastructure around the world by 2027.
Welcoming the announcement, Macky Sall, the chairperson of the African Union, remarked that the partnership is highly critical in view of the geographical proximity, the peace and stability of the two continents are closely linked. Africa’s human and natural resources and its development needs, offered Europe excellent opportunities for investment and partnerships for mutual growth.
