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

Scientists in Moscow Develop Fetal Phantom for Obstetric UltrasoundNovember 19, 2024
International Men’s Day: A Celebration of Strength, Vulnerability, and ChangeNovember 19, 2024
The Bloody Truth: Why Menstruation Is Still a Taboo in Indian SchoolsNovember 19, 2024
Toxic Air, Fragile Hearts: The Hidden Cost of Pollution on Heart Failure PatientsNovember 19, 2024
Government of Telangana Hosts the AI in Healthcare Summit – Road to BioAsia 2025November 18, 2024
In yet another groundbreaking medical milestone, Sarvodaya Hospital successfully performs India’s youngest cochlear implant on a 5- month old babyNovember 18, 2024
Sightsavers India in collaboration with AbbVie Therapeutics India Private Limited Hosted the 4th State-Level Consultation on ‘Prevention of Visual Impairment Caused by Glaucoma’November 16, 2024
Is Your Saree Hurting You? How Tight Waist Petticoats Could Trigger Skin CancerNovember 16, 2024
10 New-born Lives Lost: The Jhansi Hospital Fire That Shook India’s ConscienceNovember 16, 2024
Streax introduces revolutionary Shampoo Hair Colour in South India at accessible price point.November 15, 2024
The Silent Killer in Your Genes: Can Splicing Errors Unlock New Cancer Cures?November 15, 2024
Stress on a Schedule: What Your Gut Bacteria Know That You Don’tNovember 15, 2024
A Preventable Catastrophe: Why Are Children Still Dying from Measles?November 15, 2024
The University of Tasmania invites applications for Master of Marine and Antarctic ScienceNovember 14, 2024
ICMR’s Bold Bet: Can India’s Scientists Deliver World-First Health Breakthroughs?November 14, 2024
The Dark Reality Behind India’s Ayushman Bharat: Profits Before Patients?November 14, 2024
Not a Fan of Exercise? Here’s How Few Steps You Actually Need for Better HealthNovember 14, 2024
Shiprocket launches AI Powered Shiprocket Copilot to empower a Self-Reliant Digital Future for over 1,00,000+ Indian MSMEsNovember 13, 2024
AIIMS Darbhanga and More: Can PM Modi’s 12,000 Crore Investment Turn Bihar into India’s Next Growth Engine?November 13, 2024
Self-Made Survivor: How a Virologist Battled Breast Cancer with Her Own Lab-Grown VirusesNovember 13, 2024