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African Development Bank secures $31 billion at investment forum

African Development Bank secures $31 billion at investment forum

Akinwumi Ayodeji Adesina, President of the African Development Bank Group, attends a meeting of the 2020 African Economic Outlook report in Abidjan
Akinwumi Ayodeji Adesina, President of the African Development Bank Group. REUTERS/Luc Gnago

November 5, 2022
Original article: https://www.reuters.com/world/africa/african-development-bank-secures-31-bln-investment-forum-2022-11-05/

ABIDJAN, Nov 4 (Reuters) – The African Development Bank raised $31 billion in investment commitments for projects during the Africa Investment Forum, said the bank’s president Akinwumi Adesina at the end of the three-day meeting on Friday.

It brings the total investment for the year to about $64 billion, said Adesina. The bank secured $32.8 billion 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.

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