EU: Africa benefits from €750 million investment for transport infrastructure and renewable energy development
The European Union (EU) is mobilising €750 million ($777 million) to support investment in transport, digitalisation and clean energy infrastructure in Africa. The investments are part of the Global Gateway programme, a $155 billion development aid plan seen as the EU’s response to China’s New Silk Roads initiative.
The funds come from the EU’s own resources and those of its financial institutions, such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), as well as from the 27 member countries and their national development institutions, not to mention contributions from the European private sector.
Among other things, the funding identified 11 strategic transport corridors to facilitate trade and mobility in Africa. It has also identified 11 strategic transport corridors to facilitate trade and mobility within Africa and between Africa and Europe, while developing new value chains for the benefit of African and European industries. The “Global Gateway” programme looks like a European response to the “New Silk Roads”. The latter is a Beijing-led project that foresees the construction of railways, roads and ports in various parts of the world, especially in Africa.
Ties between Africa and the EU have been severely tested by the war in Ukraine. This war, which has led several EU member states to negotiate gas agreements with African states.
Miss OLy
