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Africa: EU Pledges More Than 150 Billion Euros Of Investment To Counter China

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The President of the European Commission Ursula Von Der Leyen announced Thursday in Dakar that Europe intends to mobilize more than 150 billion euros of investment in Africa in the coming years.

“Today, I am proud to announce more than 150 billion euros through the Africa-Europe program; this is the first regional plan under Global Gateway,” she said in front of the press, referring to the European initiative launched in December and aimed at mobilizing up to 300 billion euros of public and private funds by 2027 in infrastructure projects around the world.

Global Gateway is seen as a response to China’s “New Silk Roads”. China is also rapidly expanding its economic and political presence in Africa.

Ms. Von Der Leyen did not provide further details.

“For all of this, we of course need the private sector, its expertise and its strong investment, we also need political will at the highest level,” said Ms. von der Leyen alongside Senegalese President Macky Sall.

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