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Gadhafi tells rich Arab nations to invest in Africa

OCTOBER 10, 2010 14:59

SIRTE, Libya — Libyan leader Moammar Gadhafi urged wealthy Arab nations Sunday to invest in Africa, including through joint ventures in large-scale infrastructure projects, to help lift up poorer countries on the continent, reported the Associated Press.

Gadhafi made the appeal at the African-Arab summit which he hosted in the Libyan city of Sirte.

"I will encourage capitalism in Africa and I encourage the Arab nations to invest their money in African nations," Gadhafi said.

Sunday's summit followed an emergency Arab League meeting in Sirte a day earlier in which Palestinian President Mahmoud Abbas sought Arab support in troubled peace talks with Israel.

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