Economic and Development Cooperation
Africa has tremendous economic potential. Of course, it may not be evenly distributed, but large parts of the continent are now experiencing a level of economic growth that augurs well for the future. Despite the real progress that has been made in many African countries, there are still numerous obstacles. Germany is actively seeking to strengthen the new political momentum in Africa and to help the continent achieve sustained growth.
Africa has tremendous economic potential. Almost one billion people live on the continent, and at over US$ 1000, Africa’s per-capita GNP is higher than that of some G20 countries.
Read more: Economic relations
Despite the real progress that has been made in many African countries, there are still numerous obstacles: sub-Saharan Africa is the only region in the world in which poverty has increased during the last twenty years. Germany is actively seeking to strengthen the new political momentum in Africa and to help the continent achieve sustained growth.
Read more: Actively supporting Africa’s development
The HIPC (Heavily Indebted Poor Countries) debt relief initiative and MDRI (Multilateral Debt Relief Initiative) aim to cut the poorest states' foreign debt burden to a level that is sustainable in the long term. This should give these countries more room for manoeuvre in financial terms to combat poverty.
Read more: HIPC: debt relief for African countries
The Kimberley Process was launched in May 2000 at the initiative of governments, the diamond industry and non-governmental organizations. It aims to prevent trade in so-called conflict diamonds by issuing government certificates of origin. Conflict diamonds are smuggled diamonds which are sold and the revenue used to finance wars and rebel fighters.
Read more: The Kimberley Process: preventing trade in conflict diamonds
