*Adesina says resource-backed loans a ‘disaster for Africa’
Emmanuel Addeh in Abuja
Leaders of the G7, an informal association of seven of the world’s advanced economies and some of Nigeria’s biggest trading partners, have pledged a $420 million investment commitment to boost infrastructure in Africa.
The G7 countries include: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union (EU).
Rising from its 50th summit in Italy, tagged: “G7 Partnership for Global Infrastructure and Investment”, they welcomed the commitments of $100 million and $320 million by partners, aimed at meeting the infrastructure and development needs of Africa through private sector engagement.
The leaders agreed to support flagship projects to develop transformative economic corridors for quality infrastructure and investments, touching Africa, the Middle East and Europe.
“Today, Italy joined US and EU…
Source: Thisday Newspaper
