According to various media reports, Nigeria increased its share of funding from development funding institutions (DFIs) significantly over a five-year period leading to 2014, highlighting its economic potential as well as a need for infrastructure.
Countries that received more than 70 percent of funding from DFIs over a five-year period till 2014 include Nigeria, South Africa, Egypt, Morocco, Kenya, Ethiopia and Ghana.
President Muhammadu Buhari in South Africa
For similar reasons, Ethiopia also got a much more significant amount of funding than ountries that are much larger than it.
Countries that received more than 70 percent of funding from DFIs over a five-year period till 2014 include Nigeria, South Africa, Egypt, Morocco, Kenya, Ethiopia and Ghana.
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Development capital funding for African countries as regards infrastructure totaled about $328 billion between 2009 and 2014 – which amounts to about $54 billion a year, according to a report from law firm Baker & McKenzie and the Economist Corporate Network.
Over 67% of the DFI-funding approvals were made by four institutions: The World Bank and bodies related to it, Development Bank of Southern Africa (DBSA), African Development Bank (AfDB), and Agence Française de Développement (AFD).
