According to the AFDB bank, the recent G7 Summit in Puglia, Italy confirmed its support for various infrastructural projects across Africa. This is mainly through the G7’s Partnership for Global Infrastructure and Investment (PGII) and its links with Italy’s recently unveiled Mattei Plan for Africa.
Amongst the benefitting investments include the Lobito Corridor, a $320 million rail structure investment, and a side project dubbed, Alliance for Green Infrastructure in Africa (AGIA).
The Lobito Corridor is aimed at accessing oil and mineral rich regions of Angola, Zambia, and the DRC. It also connects the East African countries to the Atlantic ocean.
The AFDB bank president was at the frontline in ensuring African grievances were heard during the summit. Dr. Akinwumi Adesina echoed the AFDB’s efforts, of $50 billion invested, over 8 years. However, he also emphasized on the missed opportunities, including a $68-$108 billion annual requirement for a sustainable environment and economy.
Additionally, Italy and the U.S.A are joining hands through Kenyan clean energy efforts, development sustainable agriculture, and e-mobility projects. The country acts as a case study, helping show the flaws to be improved and the areas to maximize on. Therefore, follow up investments in different nations will bore better, and faster results.
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