Cape Town – The European Union has reportedly pledged a major cash support to Africa, as the two-day EU-Africa summit ended in Brussels on Thursday.
According to Africa Review, the EU would offer Africa $38bn over the next six years to fund a range of projects.
A joint communiqué issued after the meeting said more money would be available through bilateral financing arrangements, the report said.
The size of the fund was eagerly awaited after China announced a $20bn credit facility for Africa in July 2013, spread out over three years during its last summit.
Tensions had been raised before the summit by the boycott of President Jacob Zuma and Zimbabwe’s Robert Mugabe in a row over invitations.
There were also tensions over the passage of anti-homosexual legislation in Uganda and Nigeria, the report said.
The summit brought together 40 African and 20 European heads of state and government with an aim of deepening cooperation between the two continents.
Some of the African leaders at the summit were AU Commission boss Nkosazana Dlamini-Zuma, presidents Hellen Sirleaf-Johnson of Liberia, Paul Kagame of Rwanda, Uhuru Kenyatta of Kenya, Jakaya Kikwete of Tanzania, Goodluck Jonathan of Nigeria and Paul Biya of Cameroon and King Mswati of Swaziland.