Aid for Trade, an initiative started by developed nations to help economic infrastructures of least developed countries (LDCs), will attempt to bring a green economic model to African countries.
Aid for Trade will create trade conditions that will lead to sustainable development. Its focus will be on the improvement of environmental conditions and poverty alleviation, assisting African countries to maintain their existing market share as well as opening up new export markets on environmentall-friendly goods and services.
Aid for Trade said: “The shift towards a green economy holds huge economic and social potential for countries in the region. There are, however, some obstacles that are inherent to the current basis of African economies which challenge the attainment of green-led growth and development.” It also added that the structural constraints of African countries had to be addressed in order to facilitate the shift toward a green economy. “Environmental regulations, standards, labeling, and certification standards applicable to the trade in environmentally-friendly goods must all be taken into account and analyzed,” Aid for Trade said.
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