Africa Investment Forum – AfDB Chief ensures no country to ‘lag behind’ in investment
- Country:
- South Africa
No country on the African continent will be ‘lagging behind’ in terms of investments, the African Development Bank’s President, Akinwumi Adesina said at the inaugural press conference of Africa Investment Forum.
The 2019 Africa Investment Forum opened on Monday, November 11 living up to its promise to move from commitment to action. The opening ceremony of 2019 Africa Investment Forum was attended by President of South Africa Cyril Ramaphosa, President Nana Akufo Addo, President of Rwanda Paul Kagame and Prime Minister of Mozambique Carlos Agostinho do Rosário.
“There is no country behind and there will be none. We ensure that many investments are directed to fragile or low-income countries. We are not afraid to invest in Africa and in a country said to be at risk,” said the Chief of African Development Bank, Akinwumi Adesina.
Adesina expects a significant increase in investments during this 2nd edition of the Africa Investment Forum. The bulk of these investments should support the construction of transnational highways, basic infrastructure and rail networks. “We have not forgotten social investment either. In the ongoing discussions, we will need USD 488 million for the health sector,” he added.
The 59-year-old chief, who previously served as Nigeria’s Minister of Agriculture and Rural Development, emphasized that the continent focuses to play a leading role in renewable energy. This he said with the estimation of climate financing expected to reach USD 25 billion by 2025. Around USD 500 million will be invested in energy transition and another USD 25 billion will be pumped out in the development of agricultural infrastructure in rural areas within the next decade.
“I was already impressed last year by the level of commitment to the AIF and I am even more so this year, which is why we came here with a lot of interest and a lot of interest in developing a number of actions,” the Vice President of the European Investment Bank, Ambroise Fayolle cited.
Google News