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Africa: Europe Is Ready to Invest in Africa

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Tuesday, 04 October 2016

Africa: Europe Is Ready to Invest in Africa

Two years ago, the European Commission put forward an ambitious Investment Plan for Europe to get our continent back on track by mobilising new private investments. Its combination of improved access to finance, guarantees, technical assistance, and measures to create a positive business environment has delivered impressive results. For each euro spent, it is mobilising about 10 euros in investments. The same innovative approach could benefit immensely our entire neighbourhood. For this reason, we are now proposing a European external investment plan. With this new plan, we are implementing commitments taken by the international community on financing for development and with the global Agenda 2030 for sustainable development. In Addis Ababa and in New York, we collectively agreed to boost productivity, inclusive growth and job creation in full respect of human and social rights, the environment, and the preferences of partner countries and local communities. If we look at regions like the Horn of Africa, the Sahel or the Great Lakes, we see the huge socio-economic potential being hampered by war, poverty, lack of infrastructure, and weak governance.

Source: allafrica.com