The African Development Bank (AfDB) has said it would support Nigeria and four other African countries with industrial policies to help boost development in the region.
AfDB Manager, Industrial Development, Mr Alhassane Haidara, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abidjan.
He said the four other countries include Senegal, Ethiopia, Morocco and Algeria.
According to him, the bank in partnership with UNIDO will help the countries in developing policies that will drive industrial development in various sectors of the economy.
This, he said, would go a long way to boost economic development and increase Foreign Direct investment.
He said the bank would also, through the policies , support capital markets by boosting the market liquidity.
He added that the policies would support the growth of small businesses adding that industrial clusters would be established in all the five regions in Africa.
â€œThis project is going to be in a pilot scheme, if we are successful with the five countries, we will replicate in many other countries in the region,â€™â€™ he said
NAN reports that the theme for the bankâ€™s 2018 Annual meeting is â€œIndustrialising Africaâ€™â€™
The annual meeting will be held in Busan, Korea from May 21st to 25th.
The theme is one of the high five priority projects of the bank which majorly focused to how best to transform Africa.