Kenya: IGAD Lobbies Donors to Fund Infrastructure
13 March 2012
allAfrica.com - March 12, 2012
Nairobi, Kenya — Members of the Intergovernmental Authority on Development (IGAD) have petitioned development partners to finance key infrastructure projects in the Horn of Africa.
During the Horn of Africa Summit 2012 on Infrastructure and Investment hosted in Nairobi, IGAD Executive Secretary Mahboub Maalim said the countries had prepared a range of strategic investment choices to raise the profile of the priority projects.
"Out of about $7 billion (Sh574.7 billion) which was our estimate in operationalising this plan, $2 billion (Sh164.2 billion) is already available and has been mobilised with works going on at various stages in various countries," he said.
A ring corridor to link major ports and trading hubs of the Horn countries (Djibouti, Eritrea, Ethiopia, Kenya, Somalia, Sudan and Uganda) is one of the ambitious infrastructure projects.
The Horn of Africa region has been plagued by droughts, abject poverty and dilapidated infrastructure stifling efforts towards economic development.
Category: General