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Africa’s infrastructure finance default rate at 2.1% is lowest in the world- AfDB President

Akinwunmi Adesina, Food insecurity,

Dr. Akinwunmi Adesina, the President of the African Development Bank

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina has stated that the default rate on infrastructure financing for African countries is one of the lowest in the world when compared to Europe and Asia.

He disclosed this while delivering an address to participants at the African Investment Forum (AIF) held in Marrakech, Morocco themed “Unlocking Africa’s Value Chains,”

The AfDB Chief also noted that African economies present some of the most promising investment prospects globally.

In his words,

Investment in the Lagos-Abidjan highway corridor

He also said that at the AIF event last year, the Lagos-Abidjan Highway secured a $15.5 billion investment for its construction.

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Adesina emphasized that the development of this corridor has the potential to profoundly impact the entire West African region by accelerating regional integration, fostering sustainable economic growth, and promoting trade.

He said,

In 2022, investment interests were secured for $3.6 billion for the East Africa Railway Corridor, linking Tanzania, Democratic Republic of Congo, and Burundi.”

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