Mr. Akinwumi Adesina, President of the African Development Bank, has estimated total investment portfolio of the bank in ECOWAS regions to be in the threshold of $20 billion.
He said bulk of the investment went into provision of energy and transport infrastructure, private sector, regional financial market integration, water and sanitation, among others.
Adesina, who was addressing delegates at the 56th Ordinary Session of ECOWAS Authority and Heads of State and Government, said in the past four years, the bank had been made to support 18 million people connecting them to electricity, 141 million people having access to agricultural technologies for food security, 13 million people with access to finance, 101 million people with access to improved transport and 60 million people with access to improved water and sanitation.
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Narrowing it down to Nigeria, Adesina said the Bank came to the country’s rescue during recession that hit it in 2014, providing $600 million of budget support that helped it get out of recession, describing it as a tough time for Nigeria.
“The Bank also provided $500 million to establish the Development Bank of Nigeria. Last week, we provided $280 million to support social investments in Côte d’Ivoire, just as we provided $230 million for support towards stabilizing livelihoods in the northeast of Nigeria,”:he stated.
Adesina, a Nigerian, also identified other areas of support to the ECOWAS region.
Taking the case of airports, he said, the Bank supported with €525 million the construction of the Blaise Diagne international airport in Senegal, including $120 million doled out for the construction of the new Terminal 3 for Kotoka international airport in Ghana.
“We supported with $30 million the construction of the Mandela Praia airport in Cape Verde. The Bank financed Air Côte d’Ivoire with $130 million for the acquisition of a new aircraft fleet that has helped boost their capacity.
“We’ve invested as well in the development of ports, including €60 million for the Lomé Container Terminal port. The Bank fully financed with $96 million the new landmark SeneGambia Bridge that now links The Gambia and Senegal – a dream come true. And we financed with €183 million the Regional Express Train of Senegal,” he stressed.
