NEW ECONOMIC PARTNERSHIP FOR ECONOMIC DEVELOPMENT (NEPAD)

CONTENT

1. Meaning of the New Economic Partnership for Economic Development (NEPAD)
2. The Initiators of NEPAD
3. The Structure of NEPAD
4. The Aims and Objectives of NEPAD

Meaning of the New Economic Partnership for Economic Development (NEPAD)

NEPAD is a holistic, comprehensive and integrated strategic framework for the socio-economic development of Africa. The NEPAD DOCUMENT provides the vision for Africa, a statement of the problems facing the continent and a Programme of Action to resolve these problems in order to reach the objectives.

The New Partnership for Africa’s Development (NEPAD) is the vision and strategic framework adopted by African leaders to address poverty and underdevelopment throughout the African continent. Its broad approach was initially agreed at the 36th Heads of State and Government Assembly of the Organization of African Unity (OAU) held in Algeria, in 2000. The meeting asked Algeria, Egypt, Nigeria, Senegal and South Africa to develop an integrated socio-economic framework for Africa. Subsequently, the 37th Summit of the OAU held in Lusaka, Zambia in July 2001 formally endorsed NEPAD as the framework for the continent’s development.