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    BREAKING NEWS
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    Yearns for Public Private Cooperation for strong Infrastructure disclosed Solomon Quaynor – Vice President for Private Sector, Infrastructure and Industrialization of AfDB

    Posted On 04 Feb 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: Unsplash

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone-  Administrations and the private sector must accept a “whole systems approach” to urgently deliver the climate-resilient and clean infrastructure that Africa needs, African Development Bank’s (AfDB) Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, has announced.

    He noted this at the 2021 Climate Adaptation Summit hosted by the Netherlands. Communicating on the symposium’s infrastructure panel, Quaynor stated: “African administrations cannot afford replacement costs, so it is best to build resilient and quality infrastructure from the onset, as well as implement adaptation improvements on
    existing infrastructure immediately.”

    He furthered: “Overall, the African Development Bank has pledged to double current levels of climate finance from $12.5 billion in aggregate from 2016-2020 to $25 billion during the period 2021-2025, to support low carbon  development.” and low-carbon resilient.

    Moreover, the AfDB is funding governments with enterprises in endurable transport, waste and pollution management, energy, water, and other services that are climate proofed. This warranties sustainable urban development and fosters climate change stability. Cora van Nieuwenhuizen – the Minister for Infrastructure and Water Management of the Netherlands, repeated the significance of cooperation’s to accomplishing resilient infrastructure, underscoring the truth of climate change and its considerable effects.

    “The good news,” she told, “is that adaptation will enhance growth and development, create business opportunities, reduce inequalities, and protect nature.”. Other speakers, including Lawrence Slade, Chief Executive Officer of the Global Investor Association for Infrastructure, also shared beliefs on the desire for bigger partnerships to assure that
    infrastructure is ready for climate change consequences.

    “From a financial point of view and from a business point of view, there’s a really strong case for making sure you are investing today in that resilient infrastructure,” Slade noted. Uttering earlier, World Bank Vice President for Infrastructure, Makhtar Diop, emphasized the necessity to catalyze private sector financing to develop climatize salient infrastructure. “What we are trying to do at the World Bank is to de-risk as much as apparent to make enterprises desirable to the private sector in critical sectors,” he urged.

     

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    Email: Info@newafricabusinessnews.com

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    New Africa Business News Staff Correspondent
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    8 Comments

    1. Erick February 4, 2021 at 3:08 am Reply

      African Development Bank’s pledged to double current levels of climate finance from $12.5 billion in aggregate from 2016-2020 to $25 billion during the period 2021-2025 is a good news for the Continent. Africans should take lead in these projects. African own businesses should be given these contracts. We in Africa have very qualify companies and people to do these projects. Nairobi Kenya. Eric

      • New Africa Business News, Staff Correspondent February 4, 2021 at 3:09 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Fatima February 4, 2021 at 3:14 am Reply

      Many business opportunities in our great Continent. Come back home, Motherland is calling. Casablanca Morocco. Fatima

      • New Africa Business News, Staff Correspondent February 4, 2021 at 3:15 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Hans February 4, 2021 at 3:18 am Reply

      Thank you for the daily newsletters. Love them. Berlin Germany. Hans

      • New Africa Business News, Staff Correspondent February 4, 2021 at 3:19 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Paul February 4, 2021 at 3:28 am Reply

      Resilient and quality infrastructures should be Africa. Thank you for the report. Juba South Sudan. Paul

      • New Africa Business News, Staff Correspondent February 4, 2021 at 3:29 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

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    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
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