The African Development Bank Group says it is in very strong financial shape and ready to contribute to major development projects on the Continent.
Monrovia, June 3, 2024: Africa n Development Bank president Dr. Akinwumi A. Adesina has announced the mobilization of 3.5 to 5 billion dollars for the Liberty Corridor linking Liberia and the Republic of Guinea.
Dr. Adesina delivered the speech on Wednesday, 29 May 2024, at the Kenyatta International Conference Center. Another was the Bank's engagement with partners of the Africa Investment Forum to mobilize $15.6 billion of investment commitments to develop the Lagos-Abidjan corridor. He noted that"African economies are showing resilience, despite the challenges posed by climate change, geopolitical tensions, global inflation, and rising debt, among others."
The project is expected to create thousands of high-paying jobs for Liberians both during and after the construction phase. It is an integrated rail project with a deep seaport, energy, telecommunications, and fiber optic development corridor. On the margins of the AfDB Annual Meeting, members of the Liberian Delegation met with Mr. Robert Gumede, Chairman and CEO of the GUMA Group, as well as senior representatives of key multilateral financial institutions.
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