Fatshimetrie is an online publication dedicated to covering world events and international economic issues. The most recent edition highlights the G7 summit which opened on Thursday in Italy, during which an agenda focused on investments and infrastructure projects in Africa was discussed in depth.
Highlighting the Global Infrastructure and Investment Partnership Program (GIPIP) was a crucial element of the summit agenda. Among the projects discussed is a rail corridor that will connect South Africa and Central Africa. This ambitious project will also include telecommunications cables and other essential infrastructure for the region.
These infrastructure investments are designed as an alternative to China’s development efforts, which the United States and its allies seek to contain. The presence of representatives from Canada, Germany, the European Union, as well as large Italian and American private companies such as ENI and Microsoft, testifies to the importance of this program.
Ursula von der Leyen, President of the European Commission, welcomed a “different” program during her speech. She stressed that the PPIIM aims to offer a sustainable alternative, beneficial for the planet and the finances of partner countries. This innovative approach, combined with a strong financial impact, clearly distinguishes this initiative from other competing proposals.
As host country of this G7 summit, Italy, which holds the rotating presidency, places emphasis on strengthening ties with Africa, a region where other powers have long been established. African leaders, such as the presidents of Algeria and South Africa, have been invited to the summit to help shape these crucial discussions.
The commitment to infrastructure development in Africa, as part of the G7 summit, could pave the way for enhanced collaboration between participating countries and the African continent. By investing in sustainable projects that benefit local economies, this initiative aims to create a positive impact and foster long-term inclusive economic development.