By Angela Moonga
The European Union (EU) is seeking to invest over 200 billion Euros in Zambia and several other African countries.
According to Africa News, the heads of state and government of the European Union and the African Union met in Luanda, the capital of Angola, on Monday for the seventh EU-AU summit under the theme ‘Promoting peace and prosperity through effective multilateralism’.
“In countries like Zambia, the EU seeks to invest over 200 billion Euros to support its Industrial growth. The discussions were also geared towards modernising the 1,300-kilometer railway that runs through Zambia and the DR Congo to the port of Lobito in Angola,” Africa News reported of the event. “In Angola, several farmers have received training from some European companies. The same has been extended to some local companies to align with European standards and expand their export capacity.
The event celebrated 25 years of partnership between the two entities and focused on EU funding for African development.
Among the main issues for discussion were peace, security, governance and multilateralism, prosperity, people, migration and mobility
The EU is the top trading partner of African countries, collectively, and by far their largest export market, ahead of China, India, and the United States.
African countries together constitute the EU’s fourth-largest trading partner.
The EU has already invested a tune of 120 billion Euros in a Global Gateway investment project. The EU president, Von der Leyen, said they intend to invest a total of 150 billion pounds by 2027 to accelerate the green and digital transition, in addition to promoting sustainable growth in both the education and health sectors.
