Germany to use 'Marshall Plan' for investments in Africa

The EU is currently trying to sign deals with North African countries mirroring one signed with Turkey in 2016, under which Ankara was paid to take back many refugees who failed to win asylum in Europe.

Germany to use 'Marshall Plan' for investments in Africa

World Bulletin / News Desk

Germany plans to use public money to support companies that invest in Africa, part of a new “Marshall Plan” with which it hopes to tackle the roots of the refugee crisis that has convulsed European politics since 2015.

The aim was to reintroduce a scheme from the 1980s that made it easier for companies to write off losses on investments in Africa in order to moderate initial investment risks, Development Minister Gerd Mueller told Handelsblatt newspaper.

“I am also going to push for provisions made for African investments to get more favorable tax treatment,” he said Sunday of the plan being developed by his department, along with the finance and economy ministries.

Güncelleme Tarihi: 12 Temmuz 2018, 12:30