New Partnership for Africa's Development

The New Partnership for Africa's Development (NEPAD) is an economic development program of the African Union. NEPAD was adopted at the 37th session of the Assembly of Heads of State and Government in July 2001 in Lusaka, Zambia. NEPAD aims to provide an overarching vision and policy framework for accelerating economic co-operation and integration among African countries.

NEPAD is a merger of two plans for the economic regeneration of Africa: the Millennium Partnership for the African Recovery Programme (MAP), led by Former President Thabo Mbeki of South Africa in conjunction with Former President Olusegun Obasanjo of Nigeria and President Abdelaziz Bouteflika of Algeria; and the OMEGA Plan for Africa developed by President Abdoulaye Wade of Senegal. At a summit in Sirte, Libya, March 2001, the Organisation of African Unity (OAU) agreed that the MAP and OMEGA Plans should be merged.

The UN Economic Commission for Africa (UNECA) developed a "Compact for Africa’s Recovery" based on both these plans and on resolutions on Africa adopted by the United Nations Millennium Summit in September 2000, and submitted a merged document to the Conference of African Ministers of Finance and Ministers of Development and Planning in Algiers, May 2001.

In July 2001, the OAU Assembly of Heads of State and Government meeting in Lusaka, Zambia, adopted this document under the name of the New African Initiative (NAI). The leaders of G8 countries endorsed the plan on July 20, 2001; and other international development partners, including the European Union, China, and Japan also made public statements indicating their support for the program. The Heads of State and Government Implementation Committee (HSGIC) for the project finalized the policy framework and named it the New Partnership for Africa's Development on 23 October 2001. NEPAD is now a program of the African Union (AU) that has replaced the OAU in 2002, though it has its own secretariat based in South Africa to coordinate and implement its programmes.

...
Wikipedia