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The official development assistance (ODA) is at its lowest level since 1950. In 1996, it accounted for only 0.25 % of the gross domestic product of the 21 major donor countries that had pledged there thirty years , to devote 0.7% of their wealth. The commitment of ODA in promoting local initiatives could help reduce the diversion of aid . This would also promote effective corporate culture associated with the entrepreneurial dynamism of European youth.

 

Faced with the decline in ODA to poor countries , the contribution of private capital increased during the nineties, often to the benefit of the most favored classes. The share of private investment has quadrupled from 1990 to 1996 to spend $ 48.5 billion to $ 234 billion , against an increase of 39.5 to 65.6 billion for ODA .

 

However, the distribution of these private capital flows is uneven. Twelve countries receive almost 80% of private flows , especially Asian countries, through bank loans short term oriented real estate speculation. In this distribution Africa is marginalized.

 

Countries in sub -Saharan Africa lagging behind in terms of financial development. Or channeling economic energies in an efficient financial system is a prerequisite for the development of the least developed countries. Abundant African expertise formed in Europe can better than before , transpose rational methods of financial engineering in the local media.

 

Eurafrica proposes to sensitize those responsible for official development assistance so that aid programs operate best complementarities between public and private capital in developing countries .

 

For some projects, business creation , it is conceivable that ODA supports the financing of local ownership while private investors would finance their own participation. This approach could mobilize local energies involved in the development and lead to a rationalization by private initiative allocation of aid .

 

To initiate the interests of private capital , Eurafrica encourages European or regional public authorities to provide a background of venture capital. The movement intends to take action to raise awareness among African leaders to establish strategic alliances with partners who want to strengthen the private sector in Africa.

 

In sub -Saharan Africa, public authorities must accept the fact that the rule of the state can not ensure economic and social development . In the context of the globalization of trade , economic growth will be the result of the free play of private initiatives in the service of collective action. States should provide conducive safe , legal environment policy and institutional emergence of an African and supports the attraction of international capital entrepreneurial class .

 

Eurafrica focus its efforts in identifying investment needs , reconciliation of interests and the promotion of interactive projects involving Africans and Europeans wanting to establish themselves in Africa. The establishment of partnerships in the form of joint ventures , management contracts , marketing agreements , licensing , franchising, subcontracting etc. . be the constant concern of developers.

 

Building a new development ethic and the emergence of capitalism be secured guidelines of the international movement .