The African Development Bank (AfDB) has garnered $32.8 billion in investment commitments for projects in Africa, according to the bank’s president, who spoke to investors on Thursday at the end of a meeting.
According to AfDB President Akinwumi Adesina, the largest agreement signed during the three-day Africa Investment Forum was $15.6 billion for the Lagos-Abidjan mega expressway, which connects West Africa’s two major cities in Nigeria and Ivory Coast.
The 1,200-kilometer (745-mile) roadway would have four to six lanes and should be finished in roughly six years, he said.
“Africa is one of the most bankable continents on the planet. We’ve had some difficulties as a result of the COVID-19 scenario, but we’re now on the mend “Adesina stated.”Africa is open for business again.”
Agriculture and agro-processing, education, energy and climate, healthcare, minerals and mining, and information and communications technology are among the sectors covered by the initiatives, which are part of the bank’s COVID-19 response.
On the health front, Adesina mentioned a new medical city in Accra, a fund for health services for low-income people in South Africa, and two platforms for pharmaceutical product manufacture, one in West Africa and the other in Kenya.
Due to an outbreak of Omicron coronavirus variant illnesses, the meeting was rescheduled until late last year.
