{{The African Development Bank (AfDB) said on Thursday the fund it hopes to create to finance infrastructure investment on the continent could be as big as $50 billion.}}<\/p>\n
“The Bank has explained its plan to build the continent’s infrastructures and we estimate the potential to $50 billion,” chief economist and vice-president of the bank Mthuli Ncube told Reuters, on the margin of the bank’s annual assembly in Marrakesh this week.<\/p>\n
“The governors have been keen and are considering how to accelerate the process, but there is no calendar for the project.”<\/p>\n
The Bank estimates the continent needs $100 billion a year spent on infrastructure this decade.<\/p>\n
It hopes to draw in investment to its fund from sovereign wealth funds, pension funds and the African diaspora.<\/p>\n
Africa’s economy is projected to grow by 4.8 percent in 2013 and 5.3 percent in 2014, the AfDB said in a report released on Monday.<\/p>\n
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{{The African Development Bank (AfDB) said on Thursday the fund it hopes to create to finance infrastructure investment on the continent could be as big as $50 billion.}} “The Bank has explained its plan to build the continent’s infrastructures and we estimate the potential to $50 billion,” chief economist and vice-president of the bank Mthuli […]<\/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":[100],"byline":[170],"hashtag":[],"class_list":["post-8156","post","type-post","status-publish","format-standard","hentry","category-business","tag-africa","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\/8156","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=8156"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8156\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=8156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=8156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=8156"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=8156"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=8156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}