Germany to Focus G8 on Africa Investment

Thursday, October 19, 2006

Germany is proposing that the Group of Eight leading industrial nations next year forge ?reform partnerships? with a select group of well-governed African democracies to help them attract international private investment.

A senior official from Germany, which takes over the presidency of the G8 in January, sought to distinguish Berlin?s plans from last year?s British G8 presidency, which focused on debt relief and increased aid to Africa.


An internal German cabinet briefing paper, obtained by the Financial Times, argues that ?an important factor in Africa?s economic future is the private sector. Therefore the (economic and political) context in African countries needs to be improved to attract large-scale international investments?.

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Source: Financial Times (link opens in a new window)