{{The African Development Bank (AfDB) is negotiating with its members to create a huge fund to finance infrastructure in Africa, an official of the Bank has said.}}<\/p>\n
The Bank estimates the need of the African continent at $100 billion every year for the current decade.<\/p>\n
The bank’s annual assembly, held in Marrakesh, will decide of the size of the funds on Thursday.<\/p>\n
The AfDB is financing around $8 billion, including $5 billion for the infrastructure projects in Africa, the adviser of the President of The AfDB, Youssef Ouedraogo said on the margin of the bank’s annual assembly.<\/p>\n
“There are many wealthy sovereign funds in Africa and among our members, so we will try to negotiate some interesting loans” he said.<\/p>\n
The bank would get funds from Libya, which will become an active member, Algeria, Equatorial Guinea and Botswana.<\/p>\n
Africa’s economy is projected to grow by 4.8% in 2013 and accelerate further to 5.3% in 2014, the AfDB said in a report released on Monday.<\/p>\n
{reuters}<\/p>\n","protected":false},"excerpt":{"rendered":"
{{The African Development Bank (AfDB) is negotiating with its members to create a huge fund to finance infrastructure in Africa, an official of the Bank has said.}} The Bank estimates the need of the African continent at $100 billion every year for the current decade. The bank’s annual assembly, held in Marrakesh, will decide of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-8111","post","type-post","status-publish","format-standard","hentry","category-business","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=8111"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8111\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=8111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=8111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=8111"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=8111"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=8111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}