Germany Commits $4.37B to African Green Energy Projects

Investment is part of the G20 Compact with Africa, aiming to boost economic conditions and foster partnerships.

Germany pledges to invest 4 billion euros ($4.37 billion) in African green energy projects until 2030.
The investment is part of the G20 Compact with Africa, an initiative launched by Germany to improve economic conditions in participating countries and attract foreign private investment.
Chancellor Olaf Scholz stated that the materials used in green energy should be processed in the African nations they come from, creating jobs and prosperity in these countries.
Scholz emphasized that Germany aims to become a long-term and reliable partner to countries in Africa.
In response to China's strong presence in Africa, African leaders expressed openness to other partnerships and called for trust and fewer conditions from potential partners.