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African Development Bank secures $31bn at investment forum

The African Development Bank raised $31bn in investment commitments for projects during the Africa Investment Forum, said the bank's president Akinwumi Adesina.

By Loucoumane Coulibaly and Nellie Peyton

7 Nov 2022

Source: Reuters. Akinwumi Ayodeji Adesina, president of the African Development Bank Group.

It brings the total investment for the year to about $64bn, said Adesina. The bank secured $32.8bn at another meeting with investors in March.

Adesina gave few details about the projects but said one focus would be agricultural processing zones.

Projects announced earlier in the year were from sectors including agriculture and agro-processing, education, energy and climate, healthcare, minerals and mining, and information and communications technology.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/