Sisi: Africa needs $108 bln annually for infrastructure

Egypt’s President Abdel Fattah al-Sisi said that Africa needs $108 billion each year for its infrastructure on Tuesday at the African Development Bank Group’s (AfDB) annual meetings 2023.

al-Sisi further added in his opening session, “the mounting and intertwined challenges facing the world’s countries are clear to all.”

“With the signs of recovery from the negative effects of the COVID-19 pandemic on the global economy, the Russian-Ukrainian crisis and international political tensions have added unprecedented complexities to the world,” he added.

However, the President noted that the current situation affects developing countries more than anyone else. Therefore, Africa is in need of unconventional ideas and financing solutions to address major problems such as climate change and sustainable development.