Photo: DPAG20 nations launched an unprecedented initiative Saturday at the group's summit in Germany to fight poverty in Africa, but critics called the plan half-hearted. Under German Chancellor Angela Merkel's "Investment Compacts", an initial seven African countries would pledge reforms and receive technical support in order to attract new private investment. "We are ready to help interested African countries and call on other partners to join the initiative," said the G20 in their final communique. Anti-poverty group ONE said that the investment compacts "promised much, but too many G20 partners missed the memo and failed to contribute. Oxfam judged that the plan "rests on the dangerously naive assumption that boosting private investment will automatically help the poorest in the continent.

Source: The Local July 08, 2017 18:33 UTC