Africa requires annually $93 billion to undertake various infrastructure works, according to a report presented Thursday at the extraordinary African Finance ministers conference taking place in Addis Ababa.
The report said the money is required to undertake new infrastructure, rehabilitation and maintenance works in the continent, home to close to a billion inhabitants.
Water development, power and roads are the main sectors highlighted by the report.
Accordingly, the report indicates that 80 % of the money will be required for the power, transport and water sectors.
The finance ministers are also discussing issues related to economic affairs in Africa and looking at alternative sources of financing for the African Union (AU) Commission, which is depending mainly on donor support to finance its annual budget.
Source African Press Agency
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