The African Development Bank (AfDB) is working with countries in the region to prevent further debt accumulation by supporting the diversification of development financing sources.
Nnenna Nwabufo, the bank’s Director General at the East Africa Regional Development and Business Delivery office, said the region’s growth, which is projected to recover from the 0.4 percent growth in 2020 — brought on by effects of Covid-19 pandemic slowdown — is expected to hit an average of 4.1 percent in 2021, and that governments should now direct all efforts to reduce the public debt.
