European Union to invest over 150 billion euros in Africa

European Union to invest over 150 billion euros in Africa
February 11, 2022, 4:38 am

Ursula von der Leyen/Facebook page

The Xinhua reported, the president of the European Commission, Ursula von der Leyen, announced Thursday in Dakar, the European Union will invest more than 150 billion euros in Africa over the next few years as part of the first regional plan under the Global Gateway strategy.

Von der Leyen, who made the remarks at a joint press conference with Senegalese President Macky Sall, did not give any further information on the investment programme.

She noted that at the EU-African Union Summit scheduled for February 17-18 in Brussels, a first series of strategic interventions will be identified, notably through the new European strategy for investment in infrastructure projects called the Global Gateway.

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von der Layen said: "Of course we need the private sector, its expertise and strong investment, and we also need political will at the highest level."

For his part, Macky Sall stressed that given their geographical proximity, Europe and Africa have an interest in working together.

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He called for a "renewed partnership" with Africa, a guarantee of an opportunity for investment and partnerships.

Source: xinhua

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