UNCTAD World Investment Report 2021 specifically states that “Greenfield investments in industry and new infrastructure investment projects in developing countries were hit especially hard.”
These financial flows of investment dollars have deep-rooted implications for Africa in the sense that they are vital for sustainable development in less developed and poorer countries.
The decline in investment flows was disproportionately skewed towards developed countries where FDI fell by 58 per cent according to UNCTAD. Investment flows in developing economies fell by a moderate 8 per cent mainly because of resilient flows in Asia.
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