Search

The article reports that the Board of Directors of the African Development Bank (AfDB) has approved a multi-purpose funding of $187 million for Djibouti, Nigeria, Zambia, Mali and Malawi. The AfDB approvals comprise four private sector financing deals with a combined value of $102.6 million to three countries and $73.8 million to two countries.

The article reports on the economic expansion of Djibouti. It mentions that salt industry in the country attracts foreign investors, including American salt miner, Daniel R. Sutton. The port of the country also caters to several countries including India, Saudi and France. According to the author, investors from Dubai plan to expand the Port of Djibouti to a yearly capacity of three million containers. Jerome Martins Oliveira, chief executive officer of the port, says that Djibouti will link Africa, Arabia and Dubai. Mahmoud Ali Youssouf, Foreign Minister of Djibouti, said the country's model for development is Dubai.