The bank reports that Africa needs 93 billion dollars a year to invest in infrastructure

Nairobi, December 19 (Xinhua) A report by the World Bank said that to achieve the world level of infrastructure in African countries and achieve the UN Millennium Development Goals, it would take at least 93 billion dollars a year to increase investment in infrastructure in Africa.　　The Kenyan banner quoted Obiajelli Ezequesili, the World Bank's deputy governor for Africa, as saying that two-thirds per cent of the $93 billion trillion in investment required each year was infrastructure construction and renovation, and One-third for facility operation and maintenance.　　Ezequesili said that progress in resource utilization is crucial to infrastructure development in Africa, and that only raising money without addressing inefficient issues is tantamount to "discreetly".　　According to the report, some $17 billion trillion is expected to be saved if the African region is able to improve efficiency in infrastructure maintenance, government budgeting, institutional reform, public sector governance, cost recovery and regional integration. Currently, about 45 billion dollars are spent on infrastructure in Africa each year, of which two-thirds comes from tax revenues and government public-sector funds in Africa, and one-third per cent from international investment and assistance. Even in the case of efficient progress, there are still 31 billion of dollars in funding gaps. Ezequesili called on African organizations and international organizations to work closely together to address this challenge.