French President Emmanuel Macron announced €23 billion investment package for Africa during closing of Nairobi Africa Forward forum Monday event reported.
Of the total, €14 billion will come from France through private and public investment channels sources across sectors including state-backed and corporate actors.
Remaining €9 billion will be provided by African investors contributing capital from across the continent financial ecosystems and regional partners.
French investments include private-sector actors and projects led by development aid operators coordinated through national frameworks and bilateral cooperation channels.
They are expected to generate more than 250,000 direct jobs across France and African economies involved in the programme framework.
Macron described the initiative as a change in approach toward France-Africa relations during his speech at Nairobi forum closing ceremony.
He said many solutions are often shaped in the United States or China, highlighting global competition and shifting geopolitical balance.
He added Europe and Africa must build strategic autonomy together to strengthen their global position in evolving world order system.
Macron said cooperation between the continents would make them stronger if developed jointly over time through sustained investment and partnership.
