African Union to set up infrastructure fund for the continent

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The Standard | by Reuters


The African Union is setting up a fund to finance the construction of much-needed roads, railways and power plants on the continent, its infrastructure head said, turning to new sources of cash due to donor fatigue and higher debt levels.

The continent has an estimated annual infrastructure financing deficit of between $60 billion (Sh6.6 trillion) to $90 billion (Sh9.87 trillion), the AU says, making it hard for the body to advance its goal of integrating the disparate individual markets into a single, free trade area…

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