EU Proposes EUR3B G-8 Fund For Good Governance In Africa
BRUSSELS (AP)--The Group of Eight major industrialized nations should set up a EUR3 billion fund at their upcoming summit to promote good governance in Africa, European Commission President Jose Manuel Barroso said Tuesday.
Barroso said following through on aid commitments to Africa and increased international cooperation to protect security of energy supplies should be the priorities of the July 15-17 meeting in St. Petersburg, Russia.
"The G-8 must agree a set of principles which will lay the foundations for a reliable, affordable and sustainable energy system," Barroso said in a statement. "Our second priority is to keep Africa center stage."
The E.U.'s head office said the new fund would be used to encourage reform and should be distributed to those countries taking steps to improve governance in addition to regular aid.
"Money alone is not enough, sound governance goes to the heart of sustainable African development," Barroso said.
The commission said it was on track to meet a pledge made at last year's G-8 meeting to double aid to Africa by 2010. But it said the G-8 leaders needed to "step up the pace" in delivering on those commitments.
On energy, Barroso said the G-8 should set up a set of market-based principles to include consumer, producer and transit countries to ensure security of fuel supplies. The E.U. head office said the world powers should look at diversifying energy sources to cut down on polluting carbon-based fuels.
The commission's statement said that should include "changing the energy mix including nuclear power where appropriate."
It said the economic powers should also commit to improving energy efficiency and cutting down on greenhouse gas emissions.