G20 consolidates new Compact with Africa
On 12-13 June, the government of Germany organised an international conference on the topic of “G20-Africa Partnership - Investing in a Common Future.” The high-level conference gathered about 800 participants in Berlin, Germany, including presidents from Côte d’Ivoire, Ghana, Mali and Senegal. The debate focused on the three pillars of the G20-Africa Partnership: 1) to improve inclusive economic growth and employment; 2) to develop quality infrastructure, especially in the energy sector; and 3) to strengthen the framework for private finance and investment in Africa. The Compact with Africa is a central element of the new G20-Africa partnership that Germany initiated under its G20 presidency. Drawing on a partnership between African countries, international financial institutions and various development partners, it aims to develop comprehensive, co-ordinated and country-specific investment compacts to promote private investment. G20 Finance Track Reports have already been produced for Côte d’Ivoire, Ghana and Senegal.