Africa To Benefit 150bn Euro

 

By Mark N. Mengonfia mmenginfia@gmail.com

MONROVIA-Africa is expected to benefit from Africa-EU Investment package in the tone of 150 billion Euros, Laurent Delahouse, Ambassador, Head of Delegation of the EU to Liberia has said.

Amb. Delahouse made the pronouncement Thursday, February 17, 2022 at a press conference in Monrovia about the Africa-Europe ongoing Summit currently taking place in Brussels.

Making the pronouncement, the EU head of delegation to Liberia said at the end of the summit, a joint declaration on a joint-vision for 2030 is expected to be adopted by the participants.

He said,” It will announce a EUR 150 billion Africa- Europe Investment package that will support our common ambition for 2030.”

Amb. Delahouse said the investment package will boost public and private investments building on existing investments and partnerships.

Additionally, he said the billions of dollars will serve as a major booster for a large-scale sustainable investment, supported by the Team Europe Initiatives targeting major priority areas.

He named the key joint-priority areas that the funding will focus on as, green transition, a digital transition that supports trusted connectivity, sustainable growth, and decent job creation and human development.

During the conference when he was quizzed about what was the interest of the EU to invest such a huge amount of money into Africa, the EU head of delegation said Africa and Europe are the closest continents adding that they two work together to better connect countries, people, services and businesses.

He indicated that allocation of the promised money will be done in collaboration with those countries that are to benefit from it.

“We have always worked with the government in areas of interest”, he said.

Fourteen African leaders including Liberian President, George M. Weah and 27 heads of states are meeting in Brussels too, among other things, build a new partnership between Africa and Europe based on the unique relationship between the two continents in all sectors.

The gathering is intended to connect the principles for future partnership between the two, taking into account mutual respect, and respect for African sovereignty, solidarity, security, sustainability, transparency and multilateralism.

Also, they have gone to discuss how to accelerate recovery beyond COVID by promoting prosperity and sustainable growth in Africa and Europe through transformative projects and by harnessing the potential of their partnership and also promoting an ambitious large-scale investment package in Africa.

As part of the meeting, the EU head of delegation said two roundtable discussions were held.

He stated that the first one focused on financing for sustainable and inclusive growth, climate change and energy transition, digital and transport, peace, security, and governance.

“Roundtables session two looks at education, culture and vocational training, migration and mobility, Agriculture and sustainable development, health systems, and vaccine production. I do not know which one of these roundtables President Weah is expected to participate in”, he said.

 

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