Story By: Bright Philip Donkor
Dr. Fatima ElSheikh, the Secretary General of the Arab Bank for Economic Development in Africa (BADEA), says the institution has invested more than $15 billion in Africa to date, with the bulk of the funds directed towards infrastructure development.
Speaking during the Africa Prosperity Dialogue at the Accra International Conference Centre on Thursday 30 January, Dr. ElSheikh pointed out that over 60% to 70% of BADEA’s investments had been focused on key infrastructure projects across the continent.
“We are proud of our efforts, especially in building essential transportation networks. Over 40 airports have been constructed, and we’ve developed what we call ‘isolation liberation roads’—roads that connect landlocked countries to ports and facilitate access to the sea,” she explained.
Development in Africa Receives Major Funding from BADEA
Dr. ElSheikh further emphasised the bank’s commitment to the continent’s continued growth, outlining BADEA’s new ambition for the next five years.
“We have recently launched a five-year plan, with an allocation of $18 million, aimed at continuing our infrastructure development initiatives.
The focus will be on building on our existing projects and ensuring that more African nations benefit from better connectivity and access to global markets”, she added.
Source: www.thenewindependentonline.com
