Leading civil society
organization focused on international development cooperation, the Africa Network for Environment and Economic Justice (ANEEJ), has urged the G7 Governments to provide transparency for the proposed $600 billion in infrastructure funds for developing nations.
While praising the G7 Countries’ investment in Africa’s infrastructure development, Rev. David Ugolor, Executive Director of ANEEJ and Head of the Economic Community of West African States Network on Debts and Development (ECONDAD), stated that the Civil Society must demand absolute transparency and African ownership of the projects.
“We welcome the Group of seven leaders pledge on Sunday to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries aimed at countering China’s older, multitrillion-dollar Belt and Road projects,” Mr Ugoloe said.
” China’s operations with African countries have been quite opaque and the only way the G7 can counter their incursions into Africa is to come with transparency and accountability be they public or private sector funds,” he added.
Rev Ugolor stated that ANEEJ and its partners will organize a pan-African civil society movement to create a road map for tracking and monitoring the planned $600 billion infrastructure financing and interacting with the G7 countries about its findings.
“In the next months, we will be working with our partners across Africa and around the world to convene a post-G7 $600bn conference to review the proposed plan by the governments to mobilize billions of dollars in grants and private investments over five years to support projects in low and middle-income countries to tackle climate change, health, gender equity, digital infrastructure, roads among others.
“We will monitor the implementation of the projects, the governance mechanisms, ownership, transparency and accountability. We will use the reports to engage the G7 Governments individually and collectively as well as their missions. These resources must not translate into more debts and underdevelopment for Africa,” Ugolor noted.
The G-7 leaders’ annual summit at Schloss Elmau in southern Germany last Sunday saw the relaunch of the newly called “Partnership for Global Infrastructure and Investment.” Over a five-year period, the United States will mobilize $200 billion in grants, federal cash, and private investment to support initiatives in low- and middle-income nations that combat climate change, advance gender parity, advance global health, and strengthen digital infrastructure.
In order to create a viable alternative to China’s Belt and Road Effort program, which Chinese President Xi Jinping introduced in 2013, Europe promised to generate 300 billion euros ($317.28 billion) for the initiative over the same period.
China’s investment plan includes projects and initiatives in more than 100 nations with the goal of modernizing the historic Silk Road trade route connecting Asia with Europe.