Speaking in an interview on the sidelines of the African Union summit, Rugamba who is director for regional integration and trade disclosed to Reuters that a recent increase in the bank’s core capital had allowed it to allocate more funds for infrastructural projects.
“We want to double our infrastructure funding,” he said.
“There’s a big interest in projects that can transform economies… for instance there’s big talk about railways. We want to revamp our railways. So if the trends continue as they are now, I would say within five years’ time we’ll be committing up to $10 billion per year on infrastructure.”
Reiterating that, the Bank which serves as a key source of cheap credit for some of Africa’s poorest economies spends between $5-6 billion annually in infrastructure funding.
Source: Africa News