ANEEJ Urges Transparency in G7 $600bn proposed Infrastructure funds —To Convene pan-African CSO Confab on the implications
ABUJA, NIGERIA. June 29, 2022… The Africa Network for Environment and Economic Justice, (ANEEJ), a leading Civil Society Organisation working on International Development Cooperation issues has called on the G7 Governments to ensure transparency for the planned $600bn infrastructure funds for developing countries.
Executive Director of ANEEJ and Head of Economic Community of West African States Network on Debts and Development (ECONDAD), the Rev David Ugolor while welcoming the move by the G7 Countries in Africa’s infrastructural development, said that transparency of the highest order and ownership of the projects by Africans are fundamental asks from Civil Society.
“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. 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,” Rev Ugolor demanded.
ANEEJ and its partners, Rev David Ugolor said will convene a pan-Africa Civil Society movement to develop a road map to monitor and track the proposed $600bn infrastructure funds and engage the G7 governments on 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.
Last Sunday, the G-7 leaders relaunched the newly renamed “Partnership for Global Infrastructure and Investment,” at their annual gathering being held at Schloss Elmau in southern Germany. The United States would mobilize $200 billion in grants, federal funds and private investment over five years to support projects in low- and middle-income countries that help tackle climate change as well as improve global health, gender equity and digital infrastructure.
Europe pledged to mobilize 300 billion euros ($317.28 billion) for the initiative over the same period to build up a sustainable alternative to China’s Belt and Road Initiative scheme which Chinese President Xi Jinping launched in 2013,
China’s investment scheme involves development and programmes in over 100 countries aimed at creating a modern version of the ancient Silk Road trade route from Asia to Europe.