Nearly $44 Bln for Africa Infrastructure Growth Attracted in Angola Conference
Nearly $44 Bln for Africa Infrastructure Growth Attracted in Angola Conference
The III Summit on Financing for Infrastructure Development in Africa was attended by about 2,000 delegates, an Angolan newspaper reported, citing statements by Ndapo Bekele-Thomas, the African Union Development Agency executive director.
Among other things, the event allowed the raising of:
🟠$25 billion for the critical transport corridors development and logistics networks.
🟠$15 billion for electricity generation.
At the conference, Angolan President João Lourenço highlighted Africa’s $130–170 billion infrastructure financing gap, which hinders economic growth and raises production costs.
He emphasized that achieving the African Union’s development goals by 2063 hinges on the successful implementation of infrastructure projects.
Following the conference in Luanda, the Luanda Declaration was adopted, reaffirming African countries’ commitments to foster the continent’s infrastructure development.
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