[2] 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.
NEPAD's four primary objectives are: to eradicate poverty, promote sustainable growth and development, integrate Africa in the world economy, and accelerate the empowerment of women.
It is based on underlying principles of a commitment to good governance, democracy, human rights and conflict resolution; and the recognition that maintenance of these standards is fundamental to the creation of an environment conducive to investment and long-term economic growth.
NEPAD seeks to attract increased investment, capital flows and funding, providing an African-owned framework for development as the foundation for partnership at regional and international levels.
Many individual African states have also established national NEPAD structures responsible for liaison with the continental initiatives on economic reform and development programs.
The eight priority areas of NEPAD are: political, economic and corporate governance; agriculture; infrastructure; education; health; science and technology; market access and tourism; and environment.
The aim of promoting greater regional integration and trade among African states is welcomed by many, even as the fundamental macroeconomic principles NEPAD endorses remain contested.