Prioritize investment over aid, EU tells Africa

APA-Brazzaville (Congo) By Leon Charles Moukouri

The European Union’s Special Envoy for the Great Lakes Region, Koen Vervaeke has called on African leaders to prioritise investment, stressing that development will not come from aid.

“We now know, in Europe, with our African partners, that economic growth and job creation will come from investment, not as much from development aid. We have created the means and instruments to invest more in the continent,” Vervaeke said.

The European diplomat made this call on Wednesday after a meeting with President Denis Sassou N’Guesso, the Congolese Presidency’s communication service said in a statement.

“We discussed with President Denis Sassou N’Guesso a very important issue, that of attracting investment and, in this context, we also discussed the future of Congo with the IMF, which will help a lot to build this environment,” said the European Union envoy to the Great Lakes Region.

Koen Vervaeke welcomed Congo’s support for investment and economic diversification, stating that this is “an axis for the future of relations between the two parties.”

With this in mind, he announced that the EU Ambassador to Congo has signed a contract for the construction of the fishing port of Pointe-Noire.

“In a few weeks’ time, cranes will be installed at the port of Brazzaville,” he promised.


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