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EU chief unveils $200 billion investment plan for Africa

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- an investment blueprint that seeks to mobilise up to €300 billion for public and private infrastructure around the world by 2027.

the strategy will use funding from EU institutions and member countries to leverage private-sector investment.

Speaking at a press conference in the Senegalese capital Dakar, von der Leyen told reporters she was"proud" to announce plans for Africa, where the aim was to amass at least €150 billion in investment.The EU's website says money under the Global Gateway will be earmarked for"smart, lean and secure links" in communications and transport and for boosting health, education and research.

"In this area Europe is the most reliable partner for Africa and by far the most important," she added. China in particular is accused of luring African countries into debt traps, offering huge unaffordable loans. Beijing disputes the charge, arguing that its loans are designed to alleviate poverty.For his part, Senegalese President Macky Sall told reporters on Thursday that he expected the EU-AU summit to produce a"renewed, modernised and more action-oriented partnership."

 

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