Call for setting up foreign investment guarantee fund to draw capital to Africa
North Africa, Economics, 3/29/1999

Participants in a Regional North-African conference held in Marrakesh have called for the setting up of a foreign investment guarantee fund to draw more foreign capitals to the African continent and sustain its social and economic development process.

In a declaration adopted at the end of the regional conference on the follow-up of the recommendations of the Copenhagen summit for social development held in the southern Moroccan city of Marrakesh (MAR.23-26), participants urged decision-makers to associate the private sector, public institutions and Ngos in the development process. They also called for the reinforcement of decentralization and for adapting education and training with the job market requirements.

They called for the creation of a genuine African social and economic data-bank allowing aid-donors to have a clear-idea on Africa's economic performances, priorities and needs.

The declaration, which underlined the key role of youth and women in boosting the development process, called for the consolidation of the exchange of experiences between African countries and urged advanced countries to contribute actively to the development of Africans by providing them with the necessary technical assistance and financial backing.

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