The UAE’S multi-million dollar Consortium for Africa has been unveiled at the African Union. The initiative is led by the government of the United Arab Emirates in collaboration with the country's private sector and is aimed at "turbocharging" development in Africa.
According to Reem Ebrahim Al Hashemi, the UAE's investment of $500 million, the Consortium would be a long-term builder of human capital by leveraging digitisation and youth. "More than simply donor or a provider of concessionary loans, the UAE understands that real value lies in the long-term building of human capital." Al Hashemi, who is also the Managing Director of Expo 2020 Dubai, said.