Friday, May 31, 2013

African Development Bank to create infrastructure fund of $50 billion

(Reuters) - The African Development Bank said on Thursday the fund it intends to create to finance infrastructure investment on the continent could be as big as US$50 billion.

"The Bank has explained its plan to build the continent's infrastructures and we estimate the potential to US$50 billion," chief economist and vice-president of the bank Mthuli Ncube told reporters, on the margins of the bank's annual assembly in Marrakesh, Morroco this week.

"The respective central bank

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