New forms of partnerships: issues paper
Author(s)/Corporate Author (s)United Nations. Economic Commission for Africa;
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Since the late 1990s, many African economies have grown significantly, and a number of countries continue to benefit from accelerating growth rates. Growth has been largely underpinned by the sustained expansion of extractive industries and the services sector. However, with a few notable exceptions, growth has largely by-passed the agricultural and manufacturing sectors. Meanwhile, export revenues have increased rapidly, mainly as a result of the price effect, which has resulted in many countries’ economies becoming even more dependent on the export of primary products. Against this backdrop, funding Africa’s transformation will require innovative development financing mechanisms and major efforts to mobilize additional funds from existing sources of development finance.