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C'wealth plans infrastructure fund for Africa

Published by Guardian on Thu, 27 Oct 2011


AFRICAN leaders are using the ongoing business summit in Perth, Australia to push the goodwill the region enjoys in the Commonwealth to get the international community's attention.One of the inroads they have made is the acceptance of the intercontinental body to institute a special fund to support the region's infrastructure programmes.Consequently, today's meeting of the Commonwealth Heads of Government and Business Leaders will come up with the modalities for setting up of the African Infrastructure Fund.The meeting, tagged 'Prime Minister of Australia Roundtables,' is being hosted at the behest of Australian Prime Minister, Julie Gillard.The forum is one of the pre-events of the CHOGM and as part of the concluding session of the Commonwealth Business Council (CBC).President Jonathan, who is among leaders campaigning for the international community's proper appraisal of new developments in Africa, said yesterday that, 'this is the dispensation of Africa.'Addressing members of the CBC, Jonathan said 'the setting up of the African Infrastructure Fund will be discussed Thursday (today) in a meeting of Prime Minister of Australia Roundtables with Heads of Government and business leaders.'It will hold at the Burswood Convention Centre.The Nigerian leader said the Infrastructure Fund would help provide resources to 'drive Africa's economic transformation.'Also yesterday, Jonathan in Perth, Western Australia called for the strengthening of trade and economic relations between Nigeria and the host country.At a reception hosted in his honour by Gillard as part of his pre-Commonwealth Summit Working Visit to Australia, the President reiterated that Nigeria, which is Australia's second largest trading partner in Africa, would welcome the inflow of the country's mining expertise and technology for the rapid development of Nigeria's solid minerals sector.He reaffirmed his administration's commitment to achieving a significant and enduring transformation of Nigeria by diversifying the national economy, improving agricultural productivity and developing the solid minerals sector.In her remarks, Gillard pledged that Australia would support the Jonathan administration to implement its transformation agenda.She stated that, 'a new chapter of goodwill and cooperation has opened between our two countries today (yesterday).'President Goodluck Jonathan Wednesday x-rayed the outlook for Africa, saying thatwith the positive trends of improved political governance and stability in Africa, the accelerated diversification of its economies and the growth of the middle class, 'Africa has turned the bend.'Also at the presidential lunch of the CBC, Jonathan declared that the era of sustainable growth and prosperity in Africa had come.He, however, remarked that, 'much of the work that remains to be done to unleash Africa's potential must be driven by Africans and their governments and not outsiders.'He noted that for Africa to fully realise its manifest destiny through the opportunity offered by the prevailing atmosphere, 'we in the continent must put our houses in order by preventing conflicts and creating the conditions for security and stability in our countries and regions.
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