AfDB has $20bn investments’ portfolio in ECOWAS region — Adesina

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The African Development Bank (AfDB), says its portfolio investments in the Economic Community of West African States (ECOWAS) region is 20 billion dollars.

This is contained in a statement released by the bank’s Communication and External Relations Department on Sunday.

It said that the bank’s President Mr Akinwumi Adesina disclosed this at the ECOWAS Summit held in Abuja on Saturday.

Adesina explained that the bank’s major focus was on energy and transport infrastructure, private sector, regional financial market integration, water and sanitation.

He said AfDB had been very responsive during critical times that matter most as the bank was always there at the right time, with the right product, for the right needs of countries.

Adesina said one of the bank’s interventions was the case in Nigeria where the bank helped to provide 600 million dollars of budget support that helped the country out of recession.

The president said the bank also provided 500 million dollars to establish the Development Bank of Nigeria.

Similarly, Adesina disclosed that AfDB had recently provided 280 million dollars to support social investments in Côte d’Ivoire and also gave 230 million dollars for support toward stabilising livelihoods in North East Nigeria.

He noted that regional connectivity was critical to boost trade and investments  and it was at the core of work of the AfDB to ensure regional integration.

“Take the case of airports,  the bank supported with 525 million Euros for the construction of the Blaise Diagne International Airport in Senegal.

“We supported with 120 million dollars in construction of the new Terminal 3 for Kotoka international airport in Ghana.

“The bank also helped with 30 million dollars to construct the Mandela Praia airport in Cape Verde.

“The Bank financed Air Côte d’Ivoire with 130 million dollars for the acquisition of a new aircraft fleet that has helped boost their capacity.

“We have invested as well in the development of ports, including 60 million Euros for the Lomé Container Terminal port.


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