Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Germany pledges nearly $4.4B to African green energy endeavors

The German government on Monday pledged to invest four billion euros in African green energy expenditures until 2030, with Chancellor Olaf Scholz touting economic growth potential.

The German government pledged Monday to invest 4 billion euros ($4.37 billion) in African green energy projects until 2030, with Chancellor Olaf Scholz saying that countries in Africa should benefit more from their wealth of raw materials.

Scholz discussed the pledge at a news conference on the G20 Compact with Africa summit taking place in Berlin. He did not mention any specific projects but said the materials used in green energy should be processed in the African nations they come from.

"This creates jobs and prosperity in these countries," Scholz said. "And the German industry gets reliable suppliers."

TURKEY'S ERDOGAN TO VISIT GERMANY AS DIFFERENCES OVER THE ISRAEL-HAMAS WAR WIDEN

Compact with Africa is based on an initiative launched by Germany during its chairmanship of the Group of 20 leading rich and developing nations. It aims to improve the economic conditions in the participating countries in order to make them more attractive for foreign private investment.

Scholz said Germany should become a long-term and reliable partner to countries in Africa.

"Africa is our partner of choice when it comes to intensifying our economic relations and moving toward a climate-neutral future together," he said.

The Compact with Africa countries include Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, the Democratic Republic of Congo, Morocco, Rwanda, Senegal, Togo and Tunisia, according to German news agency dpa.

GERMANY PROJECTS UNDERWHELMING ECONOMIC GROWTH THROUGH 2024

Asked about China's strong presence in Africa, several African leaders said the continent was open to other partnerships.

"Perhaps China was more audacious, perhaps they have more vision and perhaps they trusted the potential in Africa," Moussa Faki, the chairperson of the African Union Commission, said.

"The African continent is open to different partnerships," he added. "Our wish is for you to place your trust in us, to impose less conditions and to create the conditions together. ...

"Improving governance, that’s our responsibility, and therefore this shared vision could allow, I’m certain of it, for a large capital that could be invested in the continent," Faki said.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.