European Commission to launch Africa spending program



The European Commission is hoping European Union member states will approve its proposal calling for a 2008-2013 spending worth EUR6 billion ($7.66 billion) to improve African regional infrastructure. The plan will involve road, energy, water and information technology projects. According to an official at the commission, the bulk of the budget will be drawn from the E.U. Development Fund, which has a total funding of EUR22 billion ($28.1 billion) between 2008 and 2013. The official said the commission has yet to decide how much money it will send to each country and use for specific projects.

Source: EU executive to unveil major Africa spending plan (Reuters)

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