Participants discussed the benefits of ongoing South-South cooperation during the recent annual meetings of the African Development Bank Group, noting their expectations that it will assist in attaining sustainable growth paths.
The sustained inflow of funds from Brazil, China and India were highlighted as providing new "economic bridges." The partnerships also result in lower production costs and exchange of knowledge.
30 May 2012: During the recent African Development Bank (AfDB) annual meetings, representatives from government and the private sector heard statements on the importance of South-South development to assist in bridging funding gaps for development in Africa.
Representatives from African and Southeast Asian countries discussed the sustained inflow of funds from countries such as China, Brazil and India, stressing that these inflows assist in forging new “economic bridges.” Speakers underscored that these partnerships have led to lower production costs, in addition to the sharing of experiences, knowledge and lessons learned to ensure that sustainable growth pathways are followed.