ADDIS ABABA – The Government of the United Arab Emirates (UAE) announced a new initiative with a committed investment of 500 million USD to support Africa’s development goals with two immediate priorities of youth and digitization, according to the country’s embassy in Addis Ababa.
The Embassy noted that the pledge was made by UAE’s International Cooperation State Minister, Reem Al Hashimy while she addressed the 33rd Ordinary Session of the African Union (AU) in Addis Ababa.
The State Minister told African leaders that the initiative would align with the UAE government and its private sector’s commitment to Africa, combining ambition for progress and resource to support the continent. The UAE government and private sector are also desirous to assist the continent’s development and investment endeavors thereby contributing share for a better future for the people of Africa.
“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,” she said, adding that her government is 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.
According to Reem, the focus on digitization and youth would ensure that the young and talented populations are not overwhelmed by, but embrace, the opportunities of the future. UAE’s investment into Africa’s digital economy is in line with the desire of African countries and the lesson drawn from its own development.
Noting that the UAE has been Africa’s active development partner throughout its 49-year history and investing billions of dollars, she indicated that the Emirates was the second-largest foreign investor in the continent in 2016.
The country has also been providing extensive support for a wide variety of projects including roads, bridges, ports, schools, clinics and hospitals in Africa and would ensure more consolidated, adaptive and impactful support in the future.
The State Minister, who is also Expo 2020 Dubai Director-General, noted that AU’s first participation in the World Expo avails the opportunity to showcase the continent’s rich history and many achievements within its own pavilion.
Located in Expo 2020’s Opportunity District, the African Union Pavilion will display speeches of Africa’s great leaders, illustrating just how much the institution has achieved its goals since its inception as the Organization of African Unity in 1963.
Reem highlighted that millions of visitors 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,” she remarked.
The Ethiopian Herald February 26/2020
BY BILAL DERSO
