Europe announced a plan to invest 150-billion-euro in Africa, a measure seen as response to the growing influence of China in the continent through its Belt & Road Initiative. This comes as African countries prepare to attend the European Union - African Union Summit in Brussels next week.
The announcement was made by European Commission President Ursula von der Leyen, who announced a 150-billion-euro ($171-billion) investment plan for Africa during a press conference in Senegal's capital Dakar on February 10, 2022.
It is a part of European Union's Global Gateway initiative, which aims to mobilise investments of up to 300 billion euros ($340 billion) for public and private infrastructure around the world.
"(Investment options in Africa) too often have hidden costs. The financial, political, environmental and social costs are sometimes very heavy. These options often create more dependency than real links," von der Leyen said.
Though she does not point her finger on China, it appears she is referring to the Belt and Road Initiative, which the western see as a tool to make African economies trapped in debt.
"Global Gateway is a different proposition. It is an investment anchored in the values to which Europe is attached, transparency, good governance, concern for the environment and the wellbeing of the population," she added.