ABIDJAN - The president of the African Development Bank has called for an end to natural resource-backed loans, calling them “asymmetric, not transparent and wrongly priced.”
Akinwumi Adesina told the Associated Press that loans given in exchange for the continent’s rich natural resources left countries in a financial crisis.
Several African countries have taken loans worth billions of dollars secured to their natural resources since the 2000s, with China as the leading lender.
