Financial Support
ICA Commitments
Multilateral commitments were $8.8 billion in 2007 – 71% of total ICA commitments. The World Bank together with the International Finance Corporation committed $3.58 billion in the region. This represents almost 40% of total commitments by multilateral agencies in 2007 and 29% of total overall commitments of ICA members.
The African Development Bank Group (African Development Fund and the African Development Bank) committed around $2 billion, 23% of the total commitments by multilateral agencies and 17% of total ICA commitments.
The European Commission (EC) committed around $1 billion, 12% of total funding by multilateral agencies and 9% of total ICA commitments. Commitments by the European Investment Bank (EIB) reached almost $1.2 billion.
The Development Bank of Southern Africa committed $415 million.
Table: ICA multilateral commitments to infrastructure projects in Africa. 2007 (US million)
Source: ICA
Bilateral Commitments from G8 countries
Bilateral commitments rose by 86% from $1.9 billion in 2006 to $3.56 billion in 2007. These increases were largely a result of increased contributions from the USA, Japan and France. Bilateral members of the ICA do not share the same approach to supporting Africa’s infrastructure. Some are very active on bilateral project financing (France, Japan, USA), others (like UK) prefer to channel most of their support for.
Table: ICA bilateral commitments to infrastructure projects in Africa. 2007 (US million)
Source: ICA