Sunday, July 21, 2024
name of Prensa Latina
Bandera inglesa
English Edition
Search
Close this search box.
name of Prensa Latina

NEWS

NEWS

Investment flows to developing countries decreased

Geneva, Jun 20 (Prensa Latina) Foreign Direct Investment (FDI) flows to developing countries fell by 7% during 2023, to USD$ 867 billion, a United Nations entity informed Thursday.

According to the analysis of UN Trade and Development (UNCTAD), the largest decline took place in the Asian region with 8% compared to the 2022 balance, while the reduction in Africa as a whole was 3% and one in Latin America and the Caribbean.

Globally, FDI recorded a decline of 2% in 2023 to USD$1.3 trillion, but excluding the impact of some exceptions, there was a sharper decline of over 10% for the second year in a row, the report details.

According to UNCTAD, over the year, the estimated value of international project finance deals in African countries fell by 50% to USD$64 billion, following a 20% drop in 2022.

However, it noted, Africa attracted a growing share of the world’s green mega-projects, six of them valued at more than USD$5 billion each.

In that continent, deals worth more than USD$10 billion were announced in projects for the production of electricity from wind and solar installations in Egypt, South Africa and Zimbabwe, the source said.

ef/omr/arc/mjm

LATEST NEWS
RELATED