African Development Bank first in Top 20 financiers in Sub-Sahara Africa
COVID-19 has decimated fiscal coffers in sub-Sahara Africa. The region boasts more than $500 billion of private sector financed projects, of which 50 per cent is under construction.
Depending on the source, sub-Sahara Africa hosts from six to ten of the poorest countries in the world. Even before the onset of the COVID-19 pandemic, empty fiscal coffers meant many governments relied on international aid to operate critical services such as healthcare.
That said, there is more than $250 billion of active projects currently under construction and funded by the private sector in Sub-Sahara Africa. A further $250 billion is in the later stages of design and have already secured funding. In addition to the above, there is more than $500 billion of projects in the early design stages waiting for finance.
Measured by the number of projects currently under construction, the African Development Bank is the largest financier of projects presently under construction in sub-Sahara Africa. However, when measured by dollar value, the Export-Import Bank of China is the largest financier of active projects in sub-Sahara Africa.
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