National Telescope national telescope newspaper
By Alimi Micheal
The Director-General for the West Africa Region of the African Development Bank (AfDB), Lamin Barrow, has announced that the bank’s total financing approvals in Nigeria have reached $10.9 billion.
He made this announcement during the Second Interactive Session and Workshop on Developing Bankable Business Proposals and Business Plans for Youths in Agriculture, which took place in Abuja on Monday.
According to the News Agency of Nigeria, this event is part of the bank’s 60th anniversary celebrations with stakeholders.
Barrow emphasized that over the past six decades, the AfDB has become a trusted partner and the leading development financial institution on the continent.
“Over the last 60 years, the Bank has grown into a trusted partner and the continent’s premier development financial institution.
“Our cooperation with Nigeria has expanded over the years, especially considering that Nigeria is the largest shareholder.
“Since it started operations in the country, cumulative financing approvals have reached 10.9 billion dollars, and our portfolio currently stands at 4.9 billion dollars, supporting projects in the public and private sectors,” he said.
Barrow also noted that Dr. Akinwumi Adesina, President of the AfDB, prioritized the “High Five” agenda upon taking office eight years ago.
This agenda aims to power, feed, industrialize, integrate, and improve the quality of life for Africans, serving as a catalyst for achieving the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063.
