French President Emmanuel Macron will host the summit on financing African economies on May 18. Paris will host a follow-up Africa-France summit in July.
The presidents of Côte d’Ivoire, Senegal, Congo Kinshasa, Congo Brazzaville, Nigeria, Rwanda, South Africa, Angola, Kenya and Guinea will be present. Mozambique’s President Filipe Nyusi is also expected to meet with Macron.
The President of the African Development Bank (AfDB), Akinwumi Adesina, will attend the summit. Just like the Managing Director of the International Monetary Fund (IMF), Kristalina Georgiev, the European Investment Bank (EIB) Werner Hoyer and the President of the European Commission, Ursula von der Leyen.
The new Chadian president Mahamat Déby, the son of Idriss Deby who died in combat, does not appear to have been invited.
French Finance Minister Bruno Le Maire discussed the summit during a call with US Treasury Secretary Janet Yellen on May 11. According to the United States, the talks included a Special Drawing Right (SDR) allocation for low-income countries, including in sub-Saharan Africa.
The spring meeting of the Paris Peace Forum will be held just before the economic summit on May 17.
Investments in renewable energies are likely to play a major role in the negotiations.
At the EU-Africa Forum on Green Investment in April, the EIB’s Hoyer highlighted climate change and investment. “It is high time for climate action to tackle climate change and environmental degradation. Cooperation is essential to ensure a green and global recovery, ”said Hoyer.
During this forum, the EIB presented plans for an additional 350 million euros in financing and support for renewable energies. This included off-grid solar plans in Chad and Comoros.
The EIB will not finance hydrocarbon projects after the end of this year, she said.
Macron set out his vision for France’s relationship with Africa during a speech in Burkina Faso in 2017.