African Development Bank Group President, Akinwumi Adesina says Africa faces an infrastructure gap of between $68bn to $108bn annually.
According to him, the bank had committed over $44bn to infrastructure across the continent in the last six years in four areas – transport, energy, water, and sanitation.
He revealed this when the United States Treasury Secretary, Janet Yellen, hosted G-7 Ministers, and heads of multilateral development banks.
The event was to discuss the scaling up of infrastructure financing and was moderated by the US Assistant Secretary for International Trade and Development, Alexia Latortue.
This information was contained in a statement obtained from the bank’s website.
Adesina said, “the AFDB, the premier financier of infrastructure in Africa, has committed more than $44bn to infrastructure across the continent in the last six years alone, in such critical areas as transport, energy, and water and sanitation.
“Despite collective efforts, Africa still faces an infrastructure financing gap of $68 to $108bn annually.”
