Transport forum to ask for £1.7bn to finance road projects
26 September 2011
Africa could receive finance to help with future transport infrastructure projects as delegates are expected to ask for monetary assistance at an upcoming forum.
Representatives from Comesa, East African Community, Southern African Development Community and the International Authority of Development will meet in Nairobi later this week (September 28th and 29th) in order to discuss future transport and energy initiatives.
The conference is expected to attract investments totalling 270 billion Kenyan shillings (£1.7 billion) for projects throughout Africa, which will see road, railway, waterway and energy sectors improved, Standard Media reported.
Chief economist at Kenya's Ministry of Trade Anthony Muriu said: "The projects when pulled off will have a direct and significant effect on transport efficiency, reducing both the cost and the time for transport of goods and people both within the country and internationally."
This comes after the United Nations revealed its Decade of Action for Road Safety will look to improve roads in Kenya in order to reduce the number of traffic accidents in the country.