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Economic Brief - The Africa Infrastructure Development Index - May 2013
10/06/2013 10:57
Economic Brief - The Africa Infrastructure Development Index - May 2013

Categories: Infrastructure

Study on Quality of Bank Financed Road Projects
26/09/2016 15:20
Study on Quality of Bank Financed Road Projects

Categories: Transport, Infrastructure

MDGs to Agenda 2063/SDGs - Transition Report 2016 - Summary
26/09/2016 09:33
MDGs to Agenda 2063/SDGs - Transition Report 2016 - Summary
MDGs to Agenda 2063/SDGs - Transition Report 2016
26/09/2016 09:22
MDGs to Agenda 2063/SDGs - Transition Report 2016
AfDB Partner of Choice for East Africa - EARC Report 2014
08/10/2014 12:27
AfDB Partner of Choice for East Africa - EARC Report 2014
Working Paper - 207 - Améliorer la Compétitivité en Afrique par le Développement des Infrastructures - Sénégal
10/09/2014 23:40
Working Paper - 207 - Améliorer la Compétitivité en Afrique par le Développement des Infrastructures - Sénégal
Study on Road Infrastructure Costs: Analysis of Unit Costs and Cost Overruns of Road Infrastructure Projects in Africa
05/06/2014 13:51
Study on Road Infrastructure Costs: Analysis of Unit Costs and Cost Overruns of Road Infrastructure Projects in Africa

Categories: Transport, Infrastructure

Nigeria - 2013 - Country Profile - Leveraging Partnerships for Economic Transformation and Inclusive Growth
14/05/2014 11:26
Nigeria - 2013 - Country Profile - Leveraging Partnerships for Economic Transformation and Inclusive Growth
Gabon - 2014 - Profil Pays - Ensemble pour bâtir le présent et mieux assurer l’avenir
14/05/2014 11:26
Gabon - 2014 - Profil Pays - Ensemble pour bâtir le présent et mieux assurer l’avenir
Rwanda - 2014 - Country Profile - Improving economic competitiveness to bring about shared growth - Full Report
14/05/2014 09:40
Rwanda - 2014 - Country Profile - Improving economic competitiveness to bring about shared growth - Full Report
Rwanda - 2014 - Country Profile - Improving economic competitiveness to bring about shared growth - Summary Report
14/05/2014 09:40
Rwanda - 2014 - Country Profile - Improving economic competitiveness to bring about shared growth - Summary Report
Tracking Africa’s Progress in Figures
09/05/2014 09:12
Tracking Africa’s Progress in Figures
African economies have sustained unprecedented rates of growth, driven mainly by strong domestic demand, improved macroeconomic management, a growing middle class, and increased political stability. As the continent continues to evolve, the African Development Bank’s <a href="t3://page?uid=6814"><strong>Tracking Africa’s Progress in Figures</strong></a> publication looks at the key megatrends of the last few decades that will shape Africa’s future. <h3>Human Development</h3> <a href="t3://file?uid=47718"><img align="left" height="100" src="uploads/RTEmagicC_1-Human-Development-tracking.png" alt="" /></a>Over the last 20 years the continent’s population has grown rapidly and in 2011 exceeded the 1 billion mark. Of all global regions, Africa will lead population growth over the next 50 years. Linked to this megatrend of rapid population growth is that of urbanization. The people of Africa will increasingly be city dwellers. Since 1960, the urban share of Africa’s population has doubled from 19 to 39 percent, equivalent to an increase of more than 416 million people in 2011. This means that Africa will have some of the largest mega-cities in the world. With a large population, Africa can harness and build on the expanded workforce to spur economic growth. However, this is conditional on Africa improving access to and equity within health systems, articulating right education policies, and creating employment opportunities. <h3>Economic Performance, Inclusiveness, and Structural Transformation</h3> <a href="t3://file?uid=47715"><img align="left" height="100" src="uploads/RTEmagicC_2--Economic-structural-transformation-tracking.png" alt="" /></a>Africa is on the rise. On aggregate, the region’s GDP growth is expected to average more than 5 percent over 2013–2015. Average inflation in Africa stood at 8.9 percent in 2012 and has since edged down to 6.7 percent in 2013, having been largely contained in most African countries. Macroeconomic stability, trade and exchange rate liberalization, and new policies and incentives supportive of the private sector have helped drive private sector development. Supported by the strong economic growth, the proportion of people living in poverty has fallen from over 50 percent in 1981 to less than 45 percent in 2012. This is coupled with the continent’s emerging middle class, grown to some 350 million people and projected to reach 1.1 billion by 2060. Africa’s growth, however, has not been even across all countries. Six of the ten most unequal countries in the world are in Africa, and there is not yet any evidence of progress in reducing income inequality. With the endowment of a young growing workforce on the one hand and natural resources on the other, Africa has an important opportunity for inclusive growth. The challenge is to seize it through wellexecuted investment in infrastructure, increased access to education and relevant training, the development of capable institutions, and support for private investment and job creation. Structural economic change is indispensable to achieve the desired progress of Africa and to bring prosperity to the continent’s populations. In order to alleviate poverty and reduce income inequalities, Africa will need to embrace structural transformation while maintaining robust economic growth. Fostering diversification through transition to high-productive sectors will be a catalyst for industrial upgrading and technological innovation which in turn will increase job creation. The path toward obtaining the status of middle-income and high-income countries will necessitate diversifying African economies away from dominant sectors such as agriculture and commodities. <h3>Governance, Fragility, and Security</h3> <a href="t3://file?uid=47717"><img align="left" height="100" src="uploads/RTEmagicC_3-Governance-Fragility-tracking.png" alt="" /></a>Africa’s rapid economic growth is transforming the lives and livelihoods of Africans at an unprecedented<br />pace. Such growth is underpinned by improvements in governance: over the period of 2000-2012, around 89 percent of African countries have improved their capacity to deliver economic opportunity and human development; 67 percent of countries made progress in fostering political participation, gender equality, and human rights; and 40 percent of countries strengthened their safety and rule of law. Tackling corruption remains an essential part of Africa’s development agenda. Africa is growing, creating both opportunities and risks. Change is intrinsic to the development process; if managed effectively, they can help unlock Africa’s development potential. Yet change can also be disruptive: urbanization and slum development, the youth bulge, inequality and social exclusion, climate pressures, environmental damage, new resource rents and resource scarcity, and weak governance all have the potential to place African societies under considerable strain. Fragility comes about where these pressures become too great for countries to manage within the political and institutional process, creating a risk that conflict spills over into violence. Despite tough challenges posed by fragility, progress is possible. While various fragile states have lost ground in terms of economic growth during earlier periods of conflict—such as the case of Liberia where GDP dropped by as much as 90 percent in 20 years—many of them, with peace and stability, are now on the path of growth and recovery. More effective and better coordinated efforts, tailored to each individual situation, must be made to assist countries affected by fragility and conflict, and countries in transition in managing political, security, economic, and environmental stresses that make them and their citizens vulnerable. <h3>Regional Integration, Trade, and Investment</h3> <a href="t3://file?uid=47721"><img align="left" height="100" src="uploads/RTEmagicC_4-Regional-integration-tracking.png" alt="" /></a>In recent years, Africa has emerged as a frontier market, having increasingly attracted the attention of investors. In 2012, Africa’s foreign direct investment (FDI) inflow grew to USD 50 billion while exports amounted to USD 641 billion. At the same time, intra-African trade remains low. Integration remains essential for Africa to realize its full growth potential, to participate in the global economy, and to share the benefits of an increasingly&nbsp; connected global marketplace. With plans to establish regional- and continental-wide free trade areas well underway, political commitment will be required to translate the trade agendas into sound policy and regulatory reforms to maximize the benefits. <h3>Infrastructure Development</h3> <a href="t3://file?uid=47719"><img align="left" height="100" src="uploads/RTEmagicC_5-Infrastructure-Tracking.png" alt="" /></a>As Africa continues to urbanize, the importance of public investment in infrastructure becomes increasingly evident. Basic amenities such as housing, drinking water, and sanitation facilities are needed to provide Africa’s growing population with a better standard of living. Investments in energy and transport will also help increase access to affordable and reliable electricity, improve transport connectivity, and reduce transport cost and time. At the same time, Africa’s rising consumer class has resulted in a surge in mobile-cellular subscriptions and internet usage. As it stands, broadband coverage is at 16 percent and will likely reach 99 percent by 2060. <h3>Agriculture, Food Security, and a Greener Environment</h3> <a href="t3://file?uid=47714"><img align="left" height="100" src="uploads/RTEmagicC_6-Agriculture-tracking.png" alt="" /></a>Agricultural production has increased, but mainly by bringing more land under cultivation rather than by<br />improvements in yields. Feeding the expanding urban population will present a challenge that will entail<br />adoption of the latest technologies and high-yielding crop varieties as a way of raising productivity. Strengthening agriculture and food security through an integrated value chain approach can improve the livelihoods of Africans who live in rural areas. Many are reliant on subsistence farming, and a sizable proportion is chronically vulnerable to climatic uncertainty. Africa lives off its land, and more than 227 million Africans work on the land, which too often fails to provide for their needs. By continuing to invest in rural infrastructure (such as rural roads, irrigation, electricity, storage facilities, access to markets, conservation systems, and supply networks), countries can increase their agricultural productivity and competitiveness.Read more
Compendium of Statistics on AfDB Group Operations 2014
06/05/2014 13:16
Compendium of Statistics on AfDB Group Operations 2014
LinkAfrica Newsletter - Issue N°2 - November 2013
20/01/2014 16:54
LinkAfrica Newsletter - Issue N°2 - November 2013
Sénégal - 2013 - Profil pays - Un aperçu des interventions du Groupe de la BAD
18/09/2013 13:37
Sénégal - 2013 - Profil pays - Un aperçu des interventions du Groupe de la BAD
Working Paper 178 - Holding Excess Foreign Reserves Versus Infrastructure Finance: What should Africa do?
24/07/2013 11:47
Working Paper 178 - Holding Excess Foreign Reserves Versus Infrastructure Finance: What should Africa do?
Financing infrastructure needs in Africa necessitates new thinking on financing mechanisms. Currently, there is a lively debate on the funding and use of foreign exchange (forex) reserves as one of the funding sources for financing infrastructure. The paper provides insight into the objectives of foreign exchange reserves management, their adequacy, the innovative mechanisms to enhance their management, and the optimal required investment for financing infrastructure in Africa. In practice, a realistic foreign exchange reserves level should meet the following requirements: (i) the ratio of import cover; (ii) the ratio of reserves to short-term foreign debt balance (iii) the ratio of foreign exchange reserves to the total foreign debt balance and (iv) the ratio of foreign exchange reserves to Money &amp; Quasi-money (M2). However more and more studies are showing that the liquidity, followed by security and returns motives remain the main objectives for building excess reserves. The paper argues that the two goals, liquidity and return, can be reconciled by dividing the reserves portfolio into a ‘liquidity portfolio’ and an ‘investment portfolio’, and using different investment guidelines for each portfolio. The rational of this proposal is that the liquidity portfolio which would be targeted at regular disbursements and unanticipated liquidity demand and for intervention objectives would be invested mostly in highly liquid and safe assets such as the money markets of the OECD countries. However, the investment portfolio would comprise a wider set of economic investment products and maturities, and would use investment criteria akin to those of big institutions and pension funds managers. The present study shows that dividing the reserves portfolio into a liquidity portfolio and an investment portfolio is applicable to the aggregate forex reserves of African countries and further highlights the social cost of the status quo for reserve management in these countries.&nbsp; The study extracts data on the foreign exchange reserve, debt and infrastructure needs of African countries from different IMF, World Bank and AfDB databases and estimates the adequacy level of foreign reserves for these countries based on two commonly used methodologies – the traditional metric method of import cover and the Wijnholds and Kapteyn (WK) method. The paper estimates the excess foreign reserve and the social cost of holding this excess based on comparison to other alternative investment opportunities such as investments in African infrastructure. Based on these estimations, the study shows that: first, African countries have held excess reserves in the range of $ 165.5 and $ 193.6 billion on average per year between 2000 and 2011. This is more than the infrastructure financing gap identified at $ 93 billion per year. Second, holding these excess reserves when compared to alternative investments in domestic infrastructure in the continent also implies a social cost of up to 1.65% of GDP, on average. The findings show the total social cost of holding excess reserves is around $300 billion per year in developing countries, which is approximately equal to the amount of resources needed by developing countries to fund basic investments to meet the MDG. Now, central banks can collateralize their resources or use repurchase agreements (Repo’s) to fund liquidity at short notification, without having to pay huge amounts of securities; and central banks may also include currency forwards and options to their list of financial instruments to defend their currency. Additionally, a range of bilateral and multilateral agreements have been put in place such as credit lines or swap lines among central banks to reinforce foreign exchange reserves. As experienced during the recent financial crisis, highly liquid foreign reserves are no longer the core or sole tool for navigating a currency crisis. Thus, holding a high percentage of highly liquid assets is no longer always the most appropriate approach. The study has also shown that social cost of holding excess reserves is considerably high in many African countries between 2000 and 2011 and more so for commodity export dependent economies. The study also shows that based on the two methods of reserve adequacy applied, that African foreign exchanges excess can be managed to meet the infrastructure financing gap of the continent. Therefore, there is room for the use of these excess reserves through novel investment vehicles to complement existing development partners while focusing on the following: i) economic infrastructure projects with a regional impact; ii) innovative mechanisms for cross-border infrastructure investments; iii) encouraging quick handling interventions (more flexible rules, systems and procedures); iv) deal with political risk, credit risk, and refinancing risk. Such envisaged investment vehicles should be driven by performance accountability criteria to manage parts of these excess reserves through investments in less liquid, higher-yielding wealth as compared to the status quo.Read more
Ethiopia - 2013 - Country Profile - Partnering for Inclusive Growth
25/06/2013 09:48
Ethiopia - 2013 - Country Profile - Partnering for Inclusive Growth
Economic Brief - Mortality in Africa: The Share of Road Traffic Fatalities
17/06/2013 09:11
Economic Brief - Mortality in Africa: The Share of Road Traffic Fatalities
Compendium of Statistics on Bank Group Operations 2013
03/05/2013 09:42
Compendium of Statistics on Bank Group Operations 2013
Economic Brief - An Integrated Approach to Infrastructure Provision in Africa
23/04/2013 14:38
Economic Brief - An Integrated Approach to Infrastructure Provision in Africa

Categories: Infrastructure

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