AfDB to Spend Big on Infrastructure

The African Development Bank plans to spend up to USD10 billion from 2010 to 2013 for the development of the continent’s infrastructure, Reuters reports. Bobby Pittman, the bank’s vice president for infrastructure and regional integrations, explained most of the funding will go to energy and transport projects.

“We have a pipeline of projects that are ready to go, the feasibility studies have been done and governments have made their prioritization, specifically on infrastructure,” Pittman told reporters on the sidelines of an AfDB meeting in South Africa.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.