High borrowing costs choking Africa’s infrastructure drive – Oyedele

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has highlighted the significant challenges faced by Africa in financing critical infrastructure and meeting its development needs. These challenges include high borrowing costs, limited access to affordable long-term capital, currency risks, and additional premiums attached to African borrowers.

Speaking at the United Nations Dialogue on Solutions to Climate Finance, Oyedele described the additional financing burden as a "prejudice premium" and "narrative cost," urging the international community to simplify access to affordable capital for developing countries and create financing arrangements that better reflect their economic and development realities.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.