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OECD supports investments for Africa

OECD supports investments for Africa

Paris, May 18 (Prensa Latina) The Organization for Economic Cooperation and Development (OECD) defended that African economies must increase their productive investments to boost economic recovery and generate more quality jobs.
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A working document, released on the eve of the Paris Summit on Financing African Economies, argues that one of the main factors hindering productive transformation and development has been the infrastructure investment deficit ($107 to $140 billion euros a year).

As a result, OECD notes that the resulting poor logistics reduce company-level productivity by as much as 40%, below global competition and it stifles their ability to generate quality jobs.

The document also stated that infrastructure projects grant key development benefits, provided that the appropriate policies are implemented such as the guarantee of basic social services.

To this end, OECD advocates that the regional governments should identify some policies to improve public finances, to strengthen institutions to attract investment and, finally, to create an African infrastructure ecosystem to guarantee bank approval for quality projects.

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