African Union Seeks Investors for Infrastructure Repairs
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African nations plan to target more private investment in key regional projects to help address a lack of infrastructure that’s curbing growth and regional integration, a unit of the African Union said.
Priority projects under the Programme for Infrastructure Development, which began in 2012, need $68 billion by 2020 and an additional $300 billion for those planned to 2040. The initiative, known as PIDA, has assisted in developing 16 priority trans-national projects so that they are now “bankable,” New Partnership for Africa’s Development Chief Executive Officer Ibrahim Mayaki said in an interview Wednesday in the Ethiopian capital, Addis Ababa.