Financial commitments to Africa’s infrastructure development grow by 12%
1 December 2016
The Infrastructure Consortium for Africa’s flagship annual report Infrastructure Financing Trends in Africa 2015 shows that $83.4bn was committed to Africa’s infrastructure development in 2015, a 12% increase on investments committed in 2014.
Members of the Infrastructure Consortium for Africa (ICA) and invited stakeholders were briefed on the details of the report on the first day of the ICA’s two-day Annual Meeting in Abidjan, Cote d’Ivoire, on 21 November 2016. They also received reports about the other key activities of the ICA Secretariat during 2016 and the studies produced.
Commenting on the reaction to the Infrastructure Financing Trends report Mr Mohamed Hassan, Coordinator of the ICA Secretariat, said:
“ICA members commended the report for the consistency of the quantitative data and the continuing trend for greater qualitative analysis. This year’s report includes more detailed analysis of the processes and dynamics that drive infrastructure investment, and incorporates the views of a wide range of stakeholders, including the private sector.
“The ICA’s annual report on infrastructure financing in Africa is a unique publication and an important tool for infrastructure planners, financiers and decision-makers across the continent. The ICA is delighted that its flagship report makes such a valuable contribution to Africa’s infrastructure development.”
The 12th Annual Meeting of the ICA, which took place on 21 and 22 November 2016, was jointly organised by the Government of Japan (Ministry of Foreign Affairs of Japan and Japan International Cooperation Agency - JICA), the African Development Bank (AfDB) and the ICA and was hosted by the AfDB at its office in Abidjan.
The morning session of the ICA Members’ meeting on 21 November 2016 was chaired by H.E. Mr Seiji Okada, Ambassador for the Tokyo International Conference on African Development (TICAD), Ministry of Foreign Affairs, Japan. The afternoon session was chaired by Mr Stefan Nalletamby, Acting Vice President for Infrastructure, Private Sector and Regional Integration, AfDB.
In addition to the Infrastructure Financing Trends in Africa 2015 report, participants at the meeting commended the ICA Secretariat on the concluded reports and studies it commissioned. Presentations were made at the meeting on a number of completed studies and others still in production, including: the Atlas of Africa Energy Resources; the report on Africa Power Pools; the Diagnostic Study and Project Development/Investment Pipeline for Urban Transport in Sub-Saharan Africa; the second edition of the One Stop Border Post (OSBP) Sourcebook; and Nexus Trade-offs and Strategies for Addressing the Water, Agriculture and Energy Security Nexus in Africa.
The ICA Secretariat briefed participants about the ICA’s support for the Water, Climate and Development Programme (WACDEP), provided a progress report on the Project Preparation Facilities Network (PPFN), and outlined planned activities for 2017.
The ICA Members Meeting was followed on 22 November 2016 by an open Plenary Meeting, where the topic of discussion was “Building Quality Infrastructure for Africa’s Development.”