UAE is Offering USD 500 Million to Africa

▴ UAE
The UAE'S Consortium for Africa, a new initiative with a committed investment of USD 500 million to help fulfill the vision of a "turbocharged" and connected new Africa, driven by its youth, has been unveiled at the African Union (AU).

The UAE Minister for International Cooperation and Director General of Expo 2020 Dubai, Her Excellency Reem Al Hashimy, told members that the Consortium would be a long-term builder of human capital on the continent with two immediate priorities: digitisation and youth.

She said the Consortium would align the UAE government and its private sector's commitment to Africa, combining ambition for progress, and resource to support it, into one focused entity to assist development and investment, contributing to an optimistic new future vision for Africa and with Africans.

Her Excellency Reem Al Hashimy explained: "More than simply donor or a provider of concessionary loans, the UAE understands that real value lies in the long-term building of human capital. And we are committed to helping deliver the apparatus in which start-ups can thrive, entrepreneurs can lead, and young people can look forward with optimism to a future that is firmly in their control."

The focus on digitisation and youth would ensure that "our young and talented populations are not overwhelmed by, but embrace, the opportunities of the future," Her Excellency added.

"We have listened closely to what you have told us, as a continent represented by the African Union, and as nations that make up its member states. And we have heard your call to the UAE: to draw on lessons learned through our own development, and to target the UAE's investment into Africa's digital economy," Her Excellency continued.

The UAE has been an active partner on the continent throughout its 49-year history, investing billions during that time and by 2016 was the second largest investor country in Africa, with support for a wide variety of projects including roads, bridges and ports, schools, clinics and hospitals.

The Consortium for Africa would ensure a more consolidated, adaptive and impactful support in the future, said Her Excellency, who was the first UAE Minister to address the AU with a speech to its Executive Council at its headquarters.

Her Excellency also heralded the first participation of the African Union at a World Expo, showcasing the continent's rich history and many achievements within its own pavilion. For the first time in World Expo's 169-year history, every single participating nation – a record-breaking 192 – will be represented with an individual pavilion of its own at the World's Greatest Showcase of human brilliance and achievement.

Some 25 million visits are expected at the first World Expo in the Middle East, Africa and South Asian region (MEASA). Located in Expo 2020's Opportunity District, the African Union Pavilion will explore the speeches of Africa's great leaders, illustrating just how much the institution has achieved since its inception as the Organisation of African Unity in 1963.

Millions of visitors will step in to a coulorful, borderless space, where they will discover Africa's vast potential and optimism for the future, reflected in its Agenda 2063 aspirations that address agriculture, transport, science and technology, and health.

For six months from 20 October 2020 until 10 April 2021, the UAE will host the world's largest meeting of minds, welcoming creative critical thinkers to a powerful platform that will shape our future and reveal a raft of opportunities to be explored by – and in – African countries.

Tags : #Consortiumforafrica #500million #Digitisation #Youth #UAE #Africanunion

About the Author


Team Medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

Vasavi Club of Buddhapurnima organised #GoVote, a vote awareness driveMay 06, 2024
Vasavi Club of Buddhapurnima organised #GoVote, a vote awareness driveMay 06, 2024
Harnessing AI for Early Alzheimer's Disease Diagnosis: IIT Indore's BreakthroughMay 06, 2024
Aurobindo Pharma's Bhiwadi Facility Under FDA Scrutiny: Understanding the ObservationsMay 06, 2024
Exploring the Role of Mediator Protein Complex in Cell Division: Implications for Disease ManagementMay 06, 2024
Akshay Tritiya Parna Mahotsav is to be held in the cityMay 04, 2024
Bharti Singh's Battle with Gallstones: Symptoms, Precautions, and Natural RemediesMay 04, 2024
Empowering Women's Health: New Mammogram GuidelinesMay 04, 2024
Rising Temperatures, Rising Risks: Addressing the Challenges of Heat StressMay 04, 2024
Gynoveda, India's First Ayurveda Fertility Company, Expands Reach with New Clinic in Pune, Set to Open 100 Clinics Across India by 2027May 03, 2024
Aptus Value Housing Finance India Limited, a leading Housing Finance Company has declared its financial results for the year ended March 31, 2024. FY 24 ResultsMay 03, 2024
TIPS FOR PREGNANCY CARE DURING SUMMERMay 03, 2024
The deadly intersection: TB and tobacco smoking co-epidemics in Indonesia Dr TARA SINGH BAM – CNSMay 03, 2024
Mintoak Expands Global Footprint with Strategic Leadership AppointmentsMay 03, 2024
The Future of Healthcare: 10 ways Telehealth is Improving Patient Outcomes and Reducing CostsMay 03, 2024
Understanding the Effects of a Keto Diet on Your Body: A One-Month JourneyMay 03, 2024
High Blood Pressure in Youth: A Precursor to Severe Heart ConditionsMay 03, 2024
High Blood Pressure in Youth: A Precursor to Severe Heart ConditionsMay 03, 2024
Microplastics in Human Brains: Understanding the Emerging Health ConcernMay 03, 2024
Federal Bank Wraps Up FY 24 With 24% Rise in Profit, highest NII, Maintains Robust Asset QualityMay 02, 2024