French President Emmanuel Macron has pledged to invest 2.5 billion euros ($2.8 billion) in Africa by financing and supporting startups and small- to medium-sized enterprises by 2022.

The investment program dubbed Choose Africa, will support about 10,000 enterprises across the continent by providing credit, technical support and equity financing, the French Development Agency said in an emailed statement. The funds will be mobilized via the AFD and its private-sector financing arm, Proparco.