ICA to expand membership; commitments to Africa increase substantially
19 May 2011
- Consensus amongst members of Infrastructure Consortium for Africa to widen membership of organisation to G20 countries.
- Substantial increase in financing for infrastructure development in Africa, with commitments rising by 40% to US$ 55 billion in 2010.
- ICA members reaffirm commitment to work together to support infrastructure development in line with African priorities, such as the Programme for Infrastructure Development in Africa (PIDA).
Welcoming the priority given by G20 nations to increase investment in infrastructure in developing countries, members of the Infrastructure Consortium for Africa (ICA - www.icafrica.org) agreed at their annual meeting to expand membership of their organisation and will invite G20 countries to join.
During the two-day meeting in Paris this week, delegates were advised by the ICA Secretariat that total external financial commitments to African infrastructure projects rose by 40% to $55 billion in 2010, with investment by ICA members alone also going up by 40%, while investment by the private sector returned to levels last seen before the global economic crisis.
ICA members also reaffirmed their commitment to support African-owned and led initiatives to drive infrastructure development across the continent. They welcomed the Presidential Infrastructure Champions Initiative (PICI) led by President Zuma of South Africa and the Institutional Architecture for Infrastructure Development in Africa (IAIDA), promoted by the African Union, as initiatives that are led by member states and regional organisations in support of the Programme for Infrastructure Development in Africa (PIDA).
The initiative to widen the ICA’s membership from G8 to G20 countries was led by the French government, who hosted the annual meeting in their role as current chair of both the G8 and the G20. Introducing the issue at the meeting, M. Philippe Thiebaud, Director at the French Ministry of Foreign and European Affairs, pointed to the Action Plan for Development adopted by G20 Heads of State at their summit in Seoul in 2010 and the priority given by G20 nations to infrastructure development in Africa.
“The ICA has an important role to play enhancing coordination amongst infrastructure financiers, planners and developers”, M. Thiebaud said. “With so much investment in Africa coming from G20 countries, expanding the ICA’s membership from G8 countries to the whole G20 will be a natural and progressive step that can only make a positive contribution to the success of the G20’s Action Plan for Development.”
Commenting on the increase in commitments to infrastructure investment in Africa, Bobby J. Pittman, Vice President of the African Development Bank, said:
“These are exciting times for infrastructure development in Africa. The increase in commitments is extremely encouraging, and shows the positive impact that the ICA has had in mobilising finance. But what next? We need to connect project sponsors to potential funders. We need to communicate ideas and proposals. One idea might be to develop a ‘virtual marketplace’ where project sponsors and potential investors could find one another.”
The ICA’s Coordinator, Hassan Mohamed, added:
“The Programme for Infrastructure Development in Africa, which is owned and developed by Africa for Africa, provides an important ‘roadmap’ and will help to develop a long-term plan for the delivery of improved trans-boundary infrastructure. ICA members are fully committed to working together to support it.”
Notes to Editors
- The 7th Annual Meeting of the Infrastructure Consortium for Africa (ICA) took place in Paris on 17 and 18 May 2011. Hosted by the Ministry of Foreign and European Affairs of France, the meeting was attended by senior representatives of G8 governments, multilateral agencies such as the African Development Bank, the World Bank, the European Commission and the European Investment Bank, and by African institutions such as the African Union Commission and the Regional Economic Communities.
- The role of the Infrastructure Consortium for Africa is to help improve the lives and economic well-being of Africa’s people through encouraging, supporting and promoting increased investment in infrastructure in Africa. Acting as a catalyst, the ICA works to enhance and accelerate the development of Africa’s infrastructure, and to help remove technical and policy barriers. The ICA was launched at the G8 Summit in 2005.
- An Outcomes Statement from the meeting will be published on the ICA website – www.icafrica.org – within two weeks. Final figures for the level of external financial support for infrastructure development in Africa will be published in the ICA’s Annual Report for 2010, which should be available in 2/3 months.
- Further information about the Programme for Infrastructure Development in Africa (PIDA) can be found out: http://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/programme-for-infrastructure-development-in-africa-pida/
- Further information about the G20’s Action Plan for Development can be found at: http://media.seoulsummit.kr/contents/dlobo/E4._ANNEX2.pdf
- Media enquiries should be addressed to:
Infrastructure Consortium for Africa
Tel: + 44 7724 241214