African nations require $1.3 trillion annually to achieve sustainable development by 2030, according to the African Development Bank (AfDB).
This statement, published on the AfDB website on Friday, coincides with the bank’s announcement of a $1.44 billion investment in Nigeria.
Unveiled during the Investment Summit 2024 in Lafia from May 15-16, this funding will enhance Nigeria’s energy, transport, water, and sanitation infrastructure.
AfDB highlighted Africa’s vast economic potential, emphasizing the need for sustained financial support from global institutions.
The bank called for a more inclusive international financial system to accelerate global development. As AfDB President Dr. Akinwumi Adesina stated, “Africa needs $1.3 trillion annually to meet its sustainable development needs by 2030.”
