Brussels, 18 February 2022 (TDI): The Sixth European Union-African Union (EU-AU) Summit started on Thursday, in Brussels. The Summit was scheduled for 17 and 18 February.
The aim of the Summit is to strengthen and recalibrate the economic and strategic partnership between European and African countries.
Both Unions deploy operations on the continent in full complementarity. Leaders from the European as well as African countries arrived in Brussels to participate in the Summit.
It is expected that the European Union will offer several packages of support at the summit to bolster health, education, and stability in Africa. Africa and Europe collaborate together to tackle terrorism, human trafficking, and other common threats.
This includes 300 billion euros, exactly a $340.9 billion investment drive. The timing of the meeting also coincides with the decision of France and its allies to begin their military withdrawal from the country.
Federica Mogherini, high representative of the European Union for foreign affairs and security policy and vice-president of the European Commission, receives Moussa Faki Mahamat, chairperson of the African Union Commission.The European Commission announced this week that the EU and the Gates Foundation would invest more than 100 million euros in the next five years. The investment is to help set up an African medicine regulator to boost the continent’s drugs and vaccine production.
The necessity to establish the African Medicines Agency (AMA) comes after the pandemic exposed the region’s dependence on imported vaccines. Africa’s population consumed over 5% of medicines and 1% of vaccines. By 2040 The EU says it will provide support to help Africa fabric 60% of the vaccines Africa needs.
Separately, the European Investment Bank announced on Thursday it would make available 500 million euros in cheap loans to Africa. That will strengthen healthcare systems. That credit line is expected to mobilize a total of 1 billion euros. Made for public and private investments, the bank said.
