G20: Germany’s Merkel says urgent for investment to flow into Africa

German Chancellor Angela Merkel said Monday that G20 countries are working on rules to improve conditions for investment in Africa and added she believed it was urgent for more direct foreign investment to flow to the continent.

Speaking at a news conference at the close of the G20 summit in the eastern Chinese city of Hangzhou, Merkel said that there was 10 times as much direct investment in the European Union as in Africa.

“What is urgently needed is that there is more direct investment in Africa,” she said. Merkel also said that the G20 leaders had extensive talks about fighting climate change and trade issues. She said the WTO reported that protectionism was increasing around the world.

Source: Reuters