The European Commission looks to allocate more than EUR5 billion ($6.33 billion) to finance regional infrastructure projects in Africa. “Getting Africa to invest in Africa and attracting foreign direct investment depends largely on reliable infrastructure and the services it delivers,” the commission said in a paper unveiling the plan. It hopes member nations will allow the use of EUR5.6 billion ($7.1 billion) from the bloc’s 2008-2013 development fund to support the initiative. The paper identified several projects, including the improvement of the Dakar-N’Djamena highway and the Nouakchott-Lagos road.
Source: EU unveils 5 bln euro aid plan for Africa (Reuters)