From Kwaku Osei Bonsu, GNA Special Correspondent, Paris, France

Paris, March 20, GNA - President John Agyekum on Thursday arrived in the French capital, Paris to launch a new initiative, Alliance for African Foundation, whose goal is to raise funds to support Africa's development.

He was accompanied by some senior Government officials.

The Foundation is being promoted by a number of world leaders and would help to identify and provide assistance for specific projects in capacity building, agro-food industry and public services.

Accra would serve as its legal headquarters, a selection influenced by Ghana's growing international acknowledgement. Considered virtuous in terms of its economic management and exemplary in its relations with donors and development partners, the country has earned a label of respectability.

The Italian city, Milan would be the operational base of the Foundation.

A cross-section of Ambassadors from Africa are expected to be present at the official out-dooring of the Foundation.

President Kufuor earlier on arrival held a meeting with the Mayor of Milan, Mrs Letizia Brichetto-Arnaboldi Moratti, a key driving force behind the initiative.