Why Infrastructure Remains A Key Focus For Afdb 60 Years Later

This substantial investment in projects ranging from energy to roads, corridors, seaports, airports, rail, digital infrastructure, water and sanitation, is a testament to the Banks longstanding commitment to bridge the infrastructure gap on the continent.

Indeed, since its inception six decades ago, the AfDB has financed the paving of over 40,000 kilometers of roadsequivalent to four times the distance between Tunis, Africas northernmost capital, and Cape Town, its southernmost. Last year alone, transport and energy projects comprised 27% and 19% of the Banks portfolio, respectively, with funding for transport infrastructure increasing 36% year-on-year to $2.49 billion.

Today, the Bank is the largest multilateral financier of infrastructure in Africa, Adesina told staff and partners of the Banks at a ceremony to mark the lenders 60th anniversary held in Abidjan Ivory Coast.

According to him, Africas significant infrastructure deficit hampers development and, if left unaddressed, will further impede progress towards industrialisation, economic integration, and improved quality of life for the continents fast-growing population. The World Bank underscores this urgency, noting that the poor state of African infrastructure reduces economic growth by 2% annually and cuts productivity by up to 40%.

Despite Africas significant infrastructure deficit, many countries on the continent have made notable strides in narrowing the gap. This can be credited in no small part to the AfDBs active involvement in some of the most transformative infrastructure projects in Africa.These advancements are particularly visible in the energy sector, where the Bank is intensifying efforts to connect the 600 million Africans who still lack access to electricity.