European Commission boosts its investments in Africa
11 Feb 2019 - by
The European Commission has signed an additional investment agreement of €225 million to provide support to its regional trade and development commitments for 25 countries in Africa, including Lesotho, Namibia, Zambia, Zimbabwe and Mozambique.
This was announced by the EU commissioner for International Cooperation and Development, Neven Mimica, who was in Addis Ababa, Ethiopia on an official visit over the weekend.
He said the additional investments would strengthen job creation and stability in eastern, southern and Indian Ocean countries.
“Recent developments on the continent have generated a need for stronger support in these areas to overcome the growing challenges such as population growth, adverse climate change effects, weak governance and the destabilising effects of international crime,” said Mimica.