AfDB to support Nigeria, others to boost development in Africa

The African Development Bank (AfDB) plans to support Nigeria, Senegal, Ethiopia, Morrocco and Algeria with industrial policies to boost development in Africa.

Mr Alhassane Haidara, Manager, Industrial Development disclosed this in an interview with our correspondent in Abidjan.

According to him, the bank in partnership with UNIDO will help the countries to develop policies that will drive industrial development in various sectors of the economy.

This, he said would go a long way to boost economic development and increase Foreign Direct investment.

He said the bank would also through the policies support capital markets by boosting the market liquidity.

He added that the policies would support the growth of Small businesses adding that industrial clusters would be established in all the five regions in Africa.

“This project is going to be in a pilot scheme, if we are successful with the five countries, we will replicate in many other countries in the region,’’ he said

Our correspondent reports that the theme for the bank’s 2018 Annual meeting of the bank is “Industrialising Africa’’

The Annual meeting will be held in Busan, Korea from May 21st to 25th.

The theme is one of the high fives priority projects of the bank which majorly focused to how best to transform Africa.