EU proposes G8 fund to promote good governance
This week’s G8 summit should set up a £1.6bn (€2.3bn) fund to promote good governance in Africa, European Commission President Jose Manuel Barroso said today.
Barroso said following through on aid commitments to Africa and increased international cooperation to protect security of energy supplies should be the priorities of the July 15-17 meeting in St Petersburg.
“The G8 must agree a set of principles which will lay the foundations for a reliable, affordable and sustainable energy system,” Barroso said in a statement. “Our second priority is to keep Africa centre stage.”
The European Union’s head office said the new fund would be used to encourage reform and should be distributed to those countries taking steps to improve governance in addition to regular aid.
“Money alone is not enough, sound governance goes to the heart of sustainable African development,” Barroso said.
