ECA, NEPAD launch investors' guide for Africa infrastructure
It was produced at the request of President Macky Sall, chairman of the NEPAD Heads of States and Government Orientation Committee, and it examines the 16 projects selected at the Dakar Summit on Infrastructure (DFS), organised in June 2014 and covers the crucial issue of their financing.
Finding investments will be key: according to projections, Africa will need about 360 billion dollars by 2040 to apply the infrastructure development programme in Africa
Senegal representative Babakar Ba from the Ministry of African Integration, NEPAD and Good Governance, warmly thanked ECA and NEPAD for having produced this important global advocacy tool in support to infrastructure development in Africa.
“Finding investments will be key: according to projections, Africa will need about 360 billion dollars by 2040 to apply the infrastructure development programme in Africa,” said ECA deputy executive secretary for knowledge delivery, Giovannie Biha, who stressed ECA’s support to the “16-16-16” initiative (16 infrastructure projects to be carried out in at least 16 countries starting from 2016), to help implement Agendas 2063 and 2030.
The “16-16-16” initiative: 16 infrastructure projects to be carried out in at least 16 countries starting from 2016
“These 16 projects have been selected by the Dakar Financing Summit. They are low hanging fruits covering strategic areas such as transport, energy, ICTs or water. Most of them are transboundary projects and are basic building blocks in the implementation of Agenda 2063,” said Mosad El Missiry, senior energy advisor at NEPAD Agency.
“Africa’s continental free trade area is scheduled to be born in a few weeks: infrastructure development will be a key pre-requisite for its success,” said IDEP director Karima Bounemra Ben Soltane.
The ‘16 infrastructure projects for African integration’ guidebook aims to guide investors’ decisions by answering their questions about the projects regarding aspects such as: their economic viability, strategic impact, technical specifications, coordination, international support, risks and mitigation, expected benefits or progress reports.
The book also presents African governments with recommendations to help them access the funds needed for their application.