The GCC's historic chance to invest in Africa

The GCC's historic chance to invest in Africa
2.5 5

Published November 25th, 2013 - 10:49 GMT via SyndiGate.info

Rate Article:

 
PRINT Send Mail
comment (0)
Nonetheless, the meeting in Kuwait provides GCC countries a new push for further upgrading an existing trade deal with a key entity in Africa.
Nonetheless, the meeting in Kuwait provides GCC countries a new push for further upgrading an existing trade deal with a key entity in Africa.
Follow >
Click here to add Sovereign Wealth Institute as an alert
Sovereign Wealth Institute
,
Click here to add Sirte as an alert
Sirte
,
Click here to add Muammar Gaddafi as an alert
Muammar Gaddafi
,
Click here to add Lusaka as an alert
Lusaka
,
Click here to add Sabah Al Ahmad Al Sabah as an alert
Sabah Al Ahmad Al Sabah
,
Click here to add Bharti Airtel as an alert
Bharti Airtel
,
Click here to add Southern Africa as an alert
Southern Africa
,
Click here to add Gulf Cooperation Council as an alert
Gulf Cooperation Council
,
Click here to add Zantel as an alert
Zantel
,
Click here to add European Economic Community as an alert
European Economic Community
,
Click here to add Parliament in Bahrain as an alert
Parliament in Bahrain

The fact that Kuwait, a member of the Gulf Cooperation Council (GCC), hosted the third Arab-African summit last week is a notable development.

Possibly, gone are the days when the deposed Libyan leader, Muammar Gaddafi, would serve as a host of pan-Arab and African meetings. The Libyan city of Sirte hosted the second Arab-African summit in late 2010 only weeks prior to the eruption of the Arab Spring. Colonel Gaddafi himself could not survive the waves that burst through in the wake of the tumultuous event.

The meeting in Kuwait took place on the theme of ‘Partners in Development and Investment’. The host country was quick to translate the message into deeds.

On the eve of the summit, Kuwait’s Emir, Sabah Al Ahmad Al Sabah, pledged $1 billion (Dh3.67 billion) in low-interest loans to African countries for a period of five years. It is possible that other resourceful GCC countries, with special funds for global development, would follow suit.

© Al Nisr Publishing LLC 2013. All rights reserved.

Add a new comment

Avatar