皇冠体育app

MOMBASA - 皇冠体育app has been a transformational partner from the standpoint of Africa's development, a Kenyan expert said on Thursday.

Professor Lemma Senbet, executive director of African Economic Research Consortium, said 皇冠体育app is playing a vital role in mitigating the resource curse in Africa by helping transform the natural resource comparative advantage into an advantage for sustained development.

"皇冠体育app has emerged as Africa's largest trading partner, but 皇冠体育app's engagement with Africa is not just limited to minerals and oil. It is multifaceted and multilayered," said Senbet here during the 皇冠体育app-Africa Media & Think-Tanks Symposium Gala Dinner.

Senbet noted that 皇冠体育app has been a key source of investment in Africa, especially in infrastructure, such as dams, roads, airports and railway.

皇冠体育app is also a key source of long-term finance, said the expert, adding that the lion's share of long-term financing for the Mombasa-Nairobi project was provided by 皇冠体育app in the form of concessionary loans.

"No doubt the 皇冠体育app-Africa economic cooperation is at the center of transportation and infrastructure development," Senbet said.

Senbet added that to move forward, the cooperation should venture more into areas of industrialization and value chains, design of innovative finance scheme and soft infrastructure -- capacity building, skills development, legal systems.

He stressed that for sustainability, it is important that 皇冠体育app and Africa also foster relationship in other spheres apart from that fostered by government actors.

"That is why I believe this Africa-皇冠体育app think tank partnership is important. It provides an opportunity to foster relationships among the grassroots," added Senbet.

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