France offers Africa $120 million for agriculture

France is to set up a $120 million fund to help Africa’s agriculture industry and the investment could end up totalling $300 million, a communique from the 25th Africa-France summit said on Tuesday.

Financials

The fund will support the development of African farming projects, the communique added.

The Africa-France summit has been held since 1975. France is looking to claw back some of its historical economic influence in the continent given the emergence of new rivals such as China, which has become Africa’s biggest trade partner.

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