Addis Ababa, 23 May 2014 (ECA) - President Macky Sall of Senegal will host a Summit on financing Africa's infrastructure from June 14-15 in Dakar. The a highly anticipated event will aim to promote the participation of the private sector in the financing and development of Africa's infrastructure. In preparation for the Summit, a number of projects have been identified for implementation as part of the African Union/NEPAD Programme for Infrastructure development in Africa -PIDA. The PIDA approved projects will be show-cased to private investors and facilitate a discussion on their investment potential.
President Sall will host the Summit as a member of the NEPAD Heads of State and Government Orientation Committee, supported by the NEPAD Agency, the African Union Commission, the African Development Bank, the Economic Commission for Africa,World Bank and other partners. The Summit is in response to to the outcomes of a study conducted by NEPAD and the ECA on Domestic Resources by African Leaders. The Study makes recommendations aimed at harnessing domestic resources for the financing of development in Africa, and in particular, for infrastructure development, which experts note, is a key driver for the acceleration of regional integration and competitiveness.
This by-invitation only summit will facilitate an interactive engagement between political and business leaders on sustainable development through domestic financing. The Summit is expected to foster an improved and enabling environment for investment in regional infrastructure projects and increased participation of the private sector in projects that go beyond infrastructure.