Germany has taken a significant step towards fostering sustainable development in Africa by pledging to invest 4 billion euros in green energy projects across the continent by 2030. Chancellor Olaf Scholz announced this commitment at the G20 Compact with Africa summit, highlighting Germany’s intent to be a long-term, reliable partner in Africa’s move towards a climate-neutral future.
The initiative, which includes countries like Egypt, Ethiopia, and Morocco, seeks to improve economic conditions and attract foreign investment. Scholz emphasized the need for the materials used in green energy to be processed within Africa, boosting job creation and local prosperity.
Moussa Faki, the African Union Commission Chairperson, welcomed this partnership, noting Africa’s openness to diverse collaborations. He stressed the continent’s potential and the importance of shared vision and improved governance to attract substantial capital investment
Which of the SDGs is this article related too? Explain how and what impact this story has on sustainable economic development.
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