Gulf-African Fund, a new idea to support exports and agricultural investment

Ahram Online, Monday 6 Dec 2010

Gulf African Investment conference launched the idea of a Gulf African Fund to invest in the agricultural development sector.

The Gulf-African Investment conference proposed the establishment of a Gulf-African fund to create investment companies to achieve food security in the sector of agricultural development

The conference urged Gulf commercial banks to open branches in Africa, as well as exhibitions and meetings between businessmen on both sides.

A new foundation, in co-operation with the African Development Bank, was proposed to support  investment in the region through the establishment of a regional office. Its main aim will be to allow the easy flow of goods, services and capital between the two parties and the allocation of investment funds to support the joint investment projects in Africa.

The conference was hosted by Saudi Arabia and ended on  Sunday evening. A large number of Gulf and African countries participated,  including six African presidents, ministers, ambassadors, academics and a large number of businessmen and professionals.

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