Green project deals for Africa struck at UN's South-South Expo

Nov 5, 2013 - The Global South-South Development Expo in Nairobi last week resulted in several cooperation and financing deals including agreements on solar projects in Uganda, alternative energy in Kenya and green businesses for Egyptian women.

In a statement on Friday the United Nations (UN), which organised the event, said that over USD 450 million (EUR 333.5m) in commitments had been made between green businesses, investors, governments and other participants. The organisation explained that the aim of the South-South collaboration was to encourage developing countries to share resources, technology and knowledge. Presently countries of the global South have more than USD 5 trillion in reserves and are responsible for 47% of global trade, the UN said.

The expo’s theme this year was “Building inclusive green economies”. It stressed on the idea that “ecology and economy are not two competing and mutually exclusive paradigms, but that they can in fact be harmoniously managed in a mutually advantageous way for the benefit of companies, citizens, communities and countries,” said General Assembly president John Ashe.

(USD 1 = EUR 0.741)

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