Senegalese president expounds his Omega plan for Africa

Senegalese president, Abdoulaye Wade, expounded in a interview with the Moroccan media his Omega plan for Africa, saying it "sets goals and defines financial means to narrow the structural gaps of infrastructure."

The Senegalese president explained that the plan, examined by the UN commission on Africa at a recent meeting in Algiers, is likely to bring the African continent out of under-development and chronic indebtedness saying the novelty is that it does not ask for funds.

King Mohammed VI expressed support to the plan in a message he sent last Sunday to Wade.

The Omega plan, he told an interview conducted jointly by MAP and the Moroccan TV "TVM," asks that Africa gets loans at realistic terms set by Africa. "We want loans that are reimbursable over 50 years. Funds will be invested in a three or four year span and all infrastructures will be completed."

He went on that a scientific seminar bringing together economists from Europe, Asia, Africa and international financial institutions will be held shortly in Dakar to ponder on the Omega plan.