EU Commits USD65B for Africa

A boy is wrapped in the European Union flag. The EU has pledged euro50 billion for development initiatives in Africa. Photo by: EU

The third Africa-European Union summit concluded with a euro50 billion (USD65 billion) pledge from the bloc to support the continent’s development initiatives in the next three years.

“We assume that over the next three years more than 50 billion euros of aid will be made available to support the overall objective of our partnership (with Africa),” European Council President Herman Van Rompuy said during the two-day summit in Tripoli, Libya, which concluded Nov. 30.

African and EU leaders adopted a second action plan of the Joint Africa-EU Strategy during the summit. The action plan, which covers the 2011-2013 period, targets eight sectors including peace and security; democratic governance and human rights; regional integration, trade and infrastructure; the Millennium Development Goals; energy; climate change and environment; migration, mobility and employment; and science, information and communication technology, and space, according to a release by the Liberian government.

The second action plan presentation will be published “soon” in the joint EU-Africa website.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.