Source: Reuters

ACCRA (Reuters) - African public and private investors plan to finance highways, hydro-power dams and other infrastructure through a continent-wide fund that puts hard cash behind the goal of a more united Africa.

African ministers officially launched the Pan African Infrastructure Development Fund late on Sunday at an African Union summit in Ghana that is debating how to speed up integration of the world's poorest continent.

"This is a fund by Africans for the benefit of Africans," South African Foreign Minister Nkosazana Dlamini-Zuma said.

Her Ghanaian counterpart, Nana Akufo Addo, said the home-grown initiative was a break from the tradition of African states "holding their hands out for alms" from the world.

Full Story...

Posted by pichu at July 2, 2007 2:10 PM