African economies set for growth in 2024 and 2025 - AfDB

Africa's economic growth is expected to rise to 3.7% this year and 4.3% in 2025 from 3.1% in 2023, African Development Bank President Akinwumi Adesina said on Wednesday.

"African economies are experiencing great resilience despite the challenges posed by climate change, geopolitical tensions, global inflation, rising debt, among others," Adesina told the annual meeting of the bank.

Adesina said the bank was, among other things, helping to raise $3.2 billion for the East Africa standard gauge railway lin king Tanzania, Democratic Republic of Congo and Burundi.

It is also providing $500 million towards the development of the Lobito Corridor to connect Zambia, Angola and the Democratic Republic of Congo.

"We are mobilising $375 million for financing the railway link in Nigeria to Niger Republic," Adesina said.

"We are mobilising $3.5 billion to $5 billion towards the development of the corridor that will link Liberia and Guinea."

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