Sanda Ojiambo, Assistant Secretary-General and Executive Director, UN Global Compact — According to the African Development Bank, African economies face commercial borrowing rates that are four times higher than those in the United States and twelve times higher than those in Germany. In international capital markets, the gap is even wider. African countries pay up to five times more in interest than they would through multilateral institutions like the World Bank or the AfDB. This has a signifi…
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