The European Commission has proposed a new Africa – Europe Alliance to enhance sustainable investment and jobs between Europe and Africa.
European Union (EU) Ambassador to Zambia, Alessandro Mariani said the Africa – Europe Alliance will deepen economic relations and boost investment and jobs.
Ambassador Mariani said the alliance will create up to 10 million jobs in Africa in the next 5 years alone thereby, boosting investment in Africa and strengthening trade. Speaking at the media breakfast in Lusaka today, Mr. Mariani echoed European Commission President Jean-Claude Juncker’s sentiments that Africa does not need charity but true and fair partnership with Europe.
In his presentation, Ambassador Mariani said in the partnership, the European Union has funds amounting to 44 billion Euros for loans and grants to be accessed by African countries. He said for Zambia alone, the EU has been implementing projects in the area of energy, transport, education and agriculture in a bid to help the country and the COMESA region fulfill its role in regional integration.
He cited the construction of 250 stretch of the Great East Road to Mwami border as one of the projects that have been implemented adding that, in 2019, the EU plans to undertake another road project, Mpika to Chinsali road which will cost in access of 170 billion Euros. The commission’s proposal for an Africa – Europe alliance for sustainable investment and jobs is part of a package which also include a proposal for a more efficient financial architecture outside the European Union which will also support further investment in Africa.
The EU is Africa’s closest neighbour and biggest investor currently providing 31 billion Euros in Official Development Assistance to Africa between 2014 and 2020 in order to boost Africa’s economy.
Source: Lusaka Times