German Chancellor Olaf Scholz promises four billion investments to support projects linked to renewable energies in Africa.
Olaf Scholz promises more than four billion euros to support projects linked to renewable energies in Africa.
Germany plans to release the funds by 2030.
The Chancellor made the announcement in Berlin during the “G20 compact with Africa”, a summit dedicated to promoting investments in Africa.
Olaf Scholz, German Chancellor: “Welcome to Berlin. The future of Europe is inextricably linked to the future of our neighboring continent. It is particularly important for us to continue to develop this partnership economically. The Compact with Africa of the G20 creates the framework for this economic partnership.
African leaders highlight the strong surge in Chinese investment in the continent’s economies.
Moussa Faki Mahamat, Chairperson of the African Union Commission: “When I visit African countries, I see that essentially, it’s the Chinese who build the infrastructure…Maybe the Chinese were more daring. Maybe they have more vision. And maybe they put their faith in Africa’s potential.”
On this issue, the President of the African Union Azali Assoumani hopes for a rebalancing and positive competition between Europe and China.
According to him, Africa “managed its past with Europe with a little difficulty” and, for its part, China “learned all the lessons” and managed to carve out “a very important place” in terms of investments.