11 African leaders meeting in Germany at development summit

BERLIN (AP) — Chancellor Angela Merkel is meeting with the heads of 11 African nations, international organizations and corporate leaders to promote a program launched under the German Group of 20 presidency last year designed to encourage private investment in Africa.

Merkel opened the G20 Compact with Africa meeting Tuesday saying it’s critical “not only to talk about Africa but to talk with Africa” about development needs and goals.

Working with the World Bank, International Monetary Fund and the African Development Bank, the goal is to bring about the conditions in African countries needed to attract private investment, including economic stability, protection for investments by fighting corruption, and financing.

It’s open to all African countries and so far 11 have joined: Benin, Ivory Coast, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.

Categories: International News