The European Union will increase the EU-Africa Infrastructure Fund, giving hopes that projects like the Kenya-Ethiopia electricity interconnection will continue to receive funding.
The EU is a major financier of power and telecommunications projects in Africa.
The fund will be increased by an equivalent of Sh50 billion by next year. Kenya plans to interconnect its grid with that of Ethiopia in order to draw power from that country by end of next year.
The electricity will ease local shortage. Part of it will be re-exported to other East Africa member countries.
It is part of the EU plans to help Africa to improve its infrastructure including roads and electricity generation to ease the cost of doing business and increase the competitiveness of African products in the global market.
Supporting development in Africa is part of conditions for Africa to sign a new trade deal with EU known as the Economic Partnership Agreements (EPA)Another condition is to support regional cooperation institutions. That is why some of the projects that have been financed cut across many countries.
One of the cross-country projects that has been financed is the East African Submarine Cable System (EASSy), a 10,000 km fibre optic submarine cable along the East African coast, linking Sudan to South Africa with landings at points in Djibouti, Somali, Kenya, Tanzania, Madagascar, Mozambique, Mayotte, and the Comoros.
The new deal, if agreed on, will guarantee Africa unrestricted access to the EU market but unlike the previous deal that expired in 2007, African countries must progressively open up their markets to EU products and services.
Loans and grantsMr Stefano Manservisi, the European Commission Director General for Development, said in an interview that the fund would be increased by 500 million Euros (about Sh50 billion) between now and next year.
Since it was set up by the African Union and the EU in 2007, the fund has spent 2.5 billion Euros (about Sh250 billion) to support several transport, energy, water and ICT projects.
The projects are financed through loans and grants.
"We want to increase our blending of low interest loans and grants to ensure that we improve our capacity to finance projects of higher value," said Mr Manservisi.
The fund has already identified 12 additional projects to be financed in the next round, including the Northern Corridor railway line and the Kenya-Ethiopia electricity interconnection.
Most of the projects identified are in the power sector (generation or distribution of electricity), which represents the largest infrastructure deficit in Africa.
The money will be a lifeline to key infrastructure projects in Africa which could have been starved of funding because of the global economic slow down.
But the challenge of raising funds still exists, said the Trust Fund in its annual report for 2008.
"The global financial crisis, which restricts credit and creates uncertainties, will continue to affect all economic operators, including potential sponsors of infrastructure projects," notes the fund's financial report.
A recent report by Oxford University found out that since the financial crisis started, new lending by the International Monetary Fund had increased but only 1.6 per cent of the money is being directed to Africa. The bulk of lending -- 82per cent -- goes to European countries.
Calls for additional funds such as the World Bank's proposal to the G20 countries to devote 0.7 per cent of their stimulus package fund to finance poor countries have been ignored.
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[Daniel 11:14 ]] And in those times there shall many stand up against the king of the south(AMERICA / BABYLON ): ALSO the ROBBERS OF OUR PEOPLE shall exalt themselves to establish the vision; BUT THEY SHALL FALL !
* 16 European Nations . Met And Plotted On How They Would Rob Africa Of Its Riches.
* They met during two(2) Periods of time in two(2) places
* The General Act Of Berlin Conference (Nov, 1884 to February, 1885)
* Brussels Belgium to finalize SECRET agreements ( Nov, 1889 to July 1890)
* The Book King Leopolds Ghost (1998) by Adam Hochschild documents some of This information.
The following Nations (Households) - Planned how they would divide among themselves our AFRICAN Riches.
1) Austria-Hungary - Francis Joseph I Charles - August 18, 1830 -
2) Belgium - King Leopold II April 9, 1835
3) Denmark - Frederik VIII -June 3, 1843
4) France - Marie François Sadi Carnot August 11, 1837 -
5) Germany - Wilhelm II - January 27, 1859
6) Great Britain - Queen Victoria (Hanover) May 24, 1819 British Ruler 2nd
7) Holland William III February 19, 1817
8) Italy - Umberto I - March 14, 1844 -
9) Norway - Oscar II [Oscar Frederik] January 21, 1829 (Also Sweden)
10) Portugal - Carlos I September 28, 1863
11) Russia - Alexander III Alexandrovich March 10, 1845
12) Spain - Alfonso XIII May 17, 1886
13) Sweden - Oscar II January 21, 1829 (Also Norway)
14) Turkey - Abdülhamid II, - September 2 or September 22 - 1842 -
15) United States - Benjamin Harrison August 20, 1833 -
16) Persia (Iran) - Nasser al-Din Shah Qajar July 16, 1831
For centuries Black Africans have been exploited and exploited in the name of Islam. Then with the coming of the Portueses (so-called Christians) to Ghana around the 1440s , the so-called Christians started their exploitation.
The Black Athena (Part1) [ Spiritual Reparations ] URL [http://www.youtube.com/watch?v=o4maNtzhL9Q ]
FRITZ SPRINGMEIER A Bold Christian Truthseeker The Top 13 Illuminati Bloodlines [ http://www.youtube.com/watch?v=k73Q2_f4vKU ]
We Black Africans are puzzling. We have a bounty of riches around us, yet we persist in allowing outsiders to steal them; while we fight each other over trivial matters.
Just in case you're wondering, here's some Black Africans who have done wondrous things to change the way we live in the world.
For example : Garrett-Augustus Morgan invented the Traffic Signal to CURB (no pun intended) TRAFFIC ACCIDENTS !!!
* Buridge & Marshman - TYPEWRITER
* George Carruthers - X-RAY MACHINE
* George Washington Carver - PEANUT BUTTER - PAINTS PAINT STAINS ETC
* W.A. Dietz - SHOE
* Charles R. Drew - BLOOD PLASMA STORAGE SYSTEM
* Michael Harney - LANTERN
* Augustus Jackson - ICE CREAM
* H.A. Jackson - KITCHEN TABLE
* Isaac R. Johnson - BICYCLE FRAME
* John A. Johnson - WRENCH
* Frederick M. Jones - DEFROSTER - REFRIGERATION CONTROLS AIR CONDITIONER
* Jones & Long - BOTTLE CAPS
* Lewis Latimer & Nichols - ELECTIC LAMP
* John L. Love - PENCIL SHARPENER
* Tony J. Marshall - FIRE EXTINGUISHER
* Alexander Miles - ELEVATOR
* W.A. Martin - LOCK
* Garrett A. Morgan - GAS MASK - Traffic Signal
* Lydia Newman - HAIR BRUSH - Nov 15, 1898
* W.B. Purvis - FOUNTAIN PEN
* L.P. Ray - DUST PAN
* W.H. Richardson - BABY BUGGY
* G.T. Sampson - CLOTHES DRYER
* .W. Smith - LAWN SPRINKLER
* J. Standard - REFRIGERATOR
* T.W. Stewart - MOP
* Maxine Snowden - RAIN HAT - 1983
* Paul E. Williams - HELICOPTER
* Granville T. Woods - Roller Coaster
* Granville T. Woods - Telegraph Transmission Devices - Dec 2, 1884 Patents # - 308, 816 (7)
Thanks to The Black Inventors Museum P.O. Box 76128 Los Angeles , Calif. (90076) Phone (310) 859-4602)
Director : Ghanaian Mr. Hamza Salifa
Contributor of Information : SEESTAH Imahkus Nzinga Okofo [http://www.oneafricaghana.com/first_and_foremost.htm ]
The Swine Flu Vaccination Hoax - Explained URL [http://www.youtube.com/watch?v=SbFxV_C8Yw4 ]
[Check Out :
3) Who Brought The Slaves To America ? URL = [ http://www.youtube.com/watch?v=JuzhnKy63io ] Or [http://wideeyecinema.com/?p=911]
WAKE UP !!! STAY UP !!!
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Life Is A Game. Have Fun . Luke 18:17 - Isaiah 11:6