The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has stated that Africa will require $484 billion over the next three years to address the socio-economic impact of the COVID-19 pandemic and promote economic recovery.
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“Africa needs $600m to $1.3bn to meet its goal of attaining 60 percent vaccine production by 2040. To address the socio-economic impacts of the pandemic and support economic recovery, Africa will need some $484bn over the next three years. To eliminate extreme poverty by 2030, the continent will need $414 – $784bn per year. Africa will need $7-$15bn a year to deal with climate change. The continent will also need between $68 – $108bn per year to fix the infrastructure financing gap.” he disclosed at the opening of the 35th African Union Summit in Addis Ababa, Ethiopia.
