EU’s Weighty Appetite For Africa’s Growth Pie Sees Fresh $550m InvestmentVENTURES AFRICA – Trading with Africa is in Europes self-interest, and that is why the European Commission (EC) has launched the first phase of its new program to promote the process of African integration at the continental level – the first program of the European Union (EU) in the development and cooperation covering the whole the continent – with a budget of 415 million euros ($554 million). The so-called pan-African Programme will finance activities in a wide range of areas and provide new opportunities for the EU and Africa to work together, through the confined period between 2014 and 2017 projects, according to the press room of the EC. The president of the Commission, José Manuel Barroso said that “the challenges we face cannot be addressed within national borders” and thus argues that the European body facing this initiative in order to “find solutions to regional and continental and to support the process of integration of the neighboring continent, where the African Union (AU) plays a key role. The partnership between Africa and Europe is essential, now more than ever, and this program will make it even stronger. For its part, the European Commissioner for Development, Andris Piebalgs, said that “the most important innovation of this program is that it allows the EU to link cooperation it has with North Africa, South Africa and Sub-Saharan Africa” and that “will help achieve greater policy coherence for development by creating synergies between cooperation and other Community policies.” Transnational challenges The PAP, which was announced by Barroso in Africa-EU Summit IV held in Brussels in April 2014, Programme amounts to €845 million from 2014 to 2020 and EU authorities are confident that also contribute to greater mobility in Africa, improve trade relations between the regions, and better equip two continents to address the transnational and global challenges, such as, migration and mobility, climate change and security, said the statement from the EC. The first phase launched now includes projects ranging from sustainable agriculture, environment, education governance, infrastructure, migration, information and communication, research and innovation. Specific speaking Community projects information revolve around supporting electoral observation missions carried out by the AU and its members, or improving the governance of migration and mobility within the continent, and between Africa and EU states. Universities There are some initiatives that directly benefit citizens, such as academic exchange program of a student, or the harmonization of curricula in a number of African universities to facilitate student mobility. Continental integration in Africa has become a key priority for both the AU and the EU, and the Pan-African program will make an important contribution to the partnership between the two Unions, something that the two regions established in 2007, and establish a strategic alliance to respond to common interest based on a strong political relationship, and close cooperation in key areas. News provided by Jose Capelo , who is a business journalist well-versed in Africa and Middle East affairs.
Posted on: Wed, 13 Aug 2014 01:05:41 +0000
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