Laaziz Faid souligne l’importance d’adopter plusieurs mesures

Laaziz Faid highlights the importance of adopting several measures

Dialogue of AfDB Governors in Nairobi (Kenya)

The Minister of Finance and Governor of the African Development Bank (AfDB) for Algeria, Laaziz Faid, underlined, the day before yesterday Tuesday in Nairobi (Kenya), the imperative to invest more in infrastructure to stimulate growth economic, and create an environment conducive to the promotion of public-private partnership by promoting collaborations between the two sectors for the design and implementation of development projects. Calling, in passing, for the adoption of innovative mechanisms to further attract private capital, in order to unleash the immense potential of the African continent.
“We need to develop innovative mechanisms to mobilize private capital. This involves creating financial instruments and guarantees to encourage private investment, particularly in high-risk sectors,” he said.
Speaking during the AfDB Governors’ Dialogue, held as part of the 2024 Annual Meetings of this African financial institution, Laaziz Faid, who led the Algerian delegation as representative of the President of the Republic, Abdelmadjid Tebboune, highlighted ahead of the need for countries on the continent to better promote their investment opportunities, share successful experiences and encourage access to technologies and innovation.
“Even though Africa is full of potential, it is too often seen through the prism of risk rather than opportunity,” he observed. Highlighting the importance of Africa’s financing needs and the complexity of the challenges facing its countries in the context of climate change, poverty and low economic diversification, Laaziz Faid noted that despite the efforts made, the Private investment remains insufficient and investors are hesitant due to perceptions of risk. “African countries must adopt several measures to improve the business climate through the simplification of administrative procedures, the fight against corruption, the strengthening of legal certainty, the protection of investors and the development of attractive tax systems” , he continued.
Discussing the role of the ADB in this process, Laaziz Faid considered that the unprecedented challenges facing the world today require strategic adaptation. “The AfDB should position itself as a key player in Africa’s economic transformation, by promoting inclusive and sustainable growth, particularly through the development of a more solid private sector,” said the Minister of Finance and Governor. of the African Development Bank (AfDB) for Algeria.
More than 3,000 delegates, who came to mainly discuss the reform of the global financial architecture as necessary for the acceleration of economic transformation in Africa, were present at the Annual Meetings of the AfDB Group, which began the day before, on Monday.
Rabah M.