2.2 billion euros to develop the private sector in Africa

European sources told ArabicNews.com about a plan to grant Africa facilities that are estimated at 2.2 billion euros during the next two years through the European Investment Bank to be directed to the private sector and toward encouraging investment in Africa.

The sources said the European Union specified $1.5 billion a year and a half ago to ease the burdens of the debts and that 2% of the direct European investments were specified for countries south of the African Sahara. The sources expected the cancellation of the African debts to the European countries, rescheduling of these debts or turning them into joint investments.