OsazuwaAkonedo Video ~ One Thing Nigerians Will Never Forget About Buhari – Adesina ~ OsazuwaAkonedo
One Thing Nigerians Will Never Forget About Buhari - Adesina ~ OsazuwaAkonedo #Abike #Adesina #Buhari #Dabiri #Diaspora #Femi #Imo #Muhammadu #NIDCOM #Nigeria #Nigerians #OsazuwaAkonedo By Femi Adesina
#Adesina criticizes #opaque #loans linked to #Africa's #resources
The head of the #African #Development #Bank is calling for an end to loans given in exchange for the continent's #rich #oil #reserves or essential #minerals used in #smartphones and #electric car #batteries.
This type of #borrowing has plunged many #African #countries into a #financial #crisis.
“They're just bad, first and foremost, because you can't value assets properly,” #Akinwumi Adesina said in an interview with The Associated #Press in #Lagos, #Nigeria, last week.
"If you have #minerals or #oil under the ground, how do you find a #price for a long-term #contract? It's a challenge," he explains.
Linking future revenues from #natural #resource #exports to loan #repayments is often presented as a way for recipients to obtain f#inancing for #infrastructure #projects and for lenders to reduce the #risk of not getting their money back.
The shift to #renewable #energy and #electric #vehicles has caused a spike in demand for essential minerals, which favors this type of lending. The agreement between #China and the #Congo illustrates this well. Beijing thus exploits the world's largest #reserves of #cobalt, a mineral used to #manufacture #lithium #batteries.
Le directeur de la Banque africaine de développement appelle à la fin des prêts accordés en échange des riches réserves de pétrole du continent ou des minéraux essentiels utilisés dans les smartphones et les batteries des voitures électriques.
OsazuwaAkonedo
RainSMediaRadio
Headlines Africa
AfricaUnion