A good practice excerpt from the peer review: Germany’s refocusing on Africa
Germany initiated the Compact with Africa initiative during its G20 presidency in 2017 to promote private investment in Africa. Twelve countries have since joined the initiative.
In 2018, the Federal Ministry for Economic Cooperation and Development (BMZ) launched its Marshall Plan with Africa comprising a policy priority on job creation and reform partnerships. Currently entered into with six African countries, these partnerships aim to focus on joint sustainable economic co-operation, moving away from the concept of donor and recipient countries.
In 2019, the Federal Government, under the leadership of the Foreign Office developed Africa policy guidelines to ensure coherence among the different German federal ministry initiatives. Pro! Africa is one such initiative of the Federal Ministry for Economic Affairs and Energy to promote foreign trade and investment for Africa. Germany also set up a new development investment fund with a focus on Compact with Africa countries, to be provided with up to EUR 1 billion by the end of 2021.
The refocusing on Africa has led to a considerable and welcome increase in ODA to the continent.
Read chapter 2 of the peer review for more on Germany’s refocusing on Africa
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