European Union plans $23 billion to check China’s reach in S Africa

European Union plans $23 billion

The European Union is working on a 20 billion-euro ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent.

Member states, however, have yet to commit to financing the infrastructure plans, according to officials familiar with the discussions.

The bloc’s plan includes strategic corridors, international submarine cables, new energy interconnections and investments in renewable sources in Senegal, Cote d’Ivoire, Egypt, Morocco and Kenya, according to a draft of the package seen by Bloomberg.

The investment is aimed at underpinning the new partnership that the EU and Africa want to seal at a 17-18 February summit in Brussels. African leaders have prioritized roads, railways and bridges.

The EU list includes about 60 projects meant to relaunch the relationship, after months of tensions over vaccine supplies and patents, as well as travel restrictions aimed at stemming the Covid-19 pandemic.European Union plans $23 billion

Author: Administrator_India

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