Reform partnerships with three African countries agreed by Development Ministry
Africa needs jobs: 20 million new jobs every year. This prompted Germany to devise the G20 plan along with the World Bank, the International Monetary Fund and the African Development Bank to set up investment partnerships for reform-oriented African countries.
Enlarge image German Development Minister Gerd Müller visiting a cocoa plantation in Côte d’Ivoire (© Ute Grabowsky/photothek.net) The objectives behind the partnerships include closer cooperation along with more private investment and more jobs in the partner countries. Germany is forging ahead with its development cooperation efforts in this regard and is putting the plan for investment partnerships into action by agreeing the first three reform partnerships. Development Minister Gerd Müller agreed the intended arrangements with the Finance Ministers of Tunisia, Côte d’Ivoire and Ghana today. The German Development Ministry (BMZ) will invest up to 300 million Euro in additional funds for this purpose starting this year.
"We want to create new incentives for reform champions," Gerd Müller said. "Anyone who demonstrates the political will to make things happen for their country and its people will receive more support. Our shared goal is more private investment and thus more jobs and income for Africa’s young population."
The aims of the three reform partnerships concluded today are to expand the use of renewable energies, improve energy efficiency, and develop the finance and banking sector. This is to be done with a view to improving the general climate for national and international investors, and facilitating access to credit for small and medium-sized businesses. At the same time, more jobs and new training places for young people are to be created in the technologies of the future.
The reform partnerships are one of the building blocks of the Marshall Plan with Africa that the BMZ has already begun to implement. The Plan will add a new dimension to economic cooperation with Africa.
Tunisia, Côte d’Ivoire and Ghana stand out by virtue of their reform-oriented policies. These policies have a strong focus on transparent budgets, fighting corruption, promoting democracy and realising economic reforms.
Under Germany’s presidency of the G20, Africa has been made a regional focus for the first time. Today and tomorrow, discussions about the new "Compacts with Africa" will take place between the G20 and the heads of state and government of ten African countries.