By Semafor Africa
Photos: YouTube Screenshots
Spain has launched a program of private sector investment aimed at fostering economic development and job creation in West Africa, its economy minister told Semafor.
Carlos Cuerpo, speaking at the World Economy Summit, said the Africa Forward Alliance program was rolled out first in Senegal and would later be extended to The Gambia and Mauritania.
“We want to create economic development in countries that are the origin of big migration flows for Europe, and Spain in particular,” Cuerpo said, adding that the aim was to “align the interests of the African countries with those of private and multilateral investors.”
Cuerpo also said Spain had released $1.9 billion to a fund that provides support to the world’s poorest countries through the reallocation of the country’s holdings at the International Monetary Fund and urged other advanced economies to support low-income nations amid Western cuts to development aid.
— Alexis
