African leaders call for acceleration of infrastructure development plan
28 May 2012
In order to make the necessary infrastructure improvements in the continent of Africa, as much as $60 billion (£38.2 billion) is needed over the next decade.
That is the conclusion of the Global African Diaspora Summit in Johannesburg, South Africa.
In fact, the African Union Commission said that the continent must make some significant changes over the next ten years in order to accelerate economic development, Leadership has reported.
To this end, the union said that there needs to be a radical improvement in terms of infrastructure networks and inadequate access to energy, which is holding the continent back on an economic level.
African leaders have, therefore, decided to increase public spending of infrastructure by starting big power projects.
As part of the revised approach, railways across the continent will be modernised, new airports will be built and the capacity of Africa's port will be increased, which should help the movement of consumer goods.