African union calls for domestic financing to implement infrastructure projects

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African Union calls for domestic financing to implement infrastructure projects

ECA Press Release 194/2012

Addis Ababa, 13 November 2012 (ECA) - Ahead of the African energy ministers meeting opening later this week, African Union Commissioner for Infrastructure and Energy, Elham Ibrahim, has emphasized the need to prioritize energy in development strategies and implement the Programme for Infrastructure Development in Africa (PIDA).

Speaking at a press conference on the margins of the Expert’s meeting, the Commissioner said Africa must prioritize reliable, affordable and low-cost power supply as it is critical for Africa’s economic growth.

“It is Africa’s time for action and member States need to mobilize domestic resources and prioritize renewable energies in their economic development strategies; if we do not invest with our money, we will not sustain our priorities,” she cautioned.

She said collaboration between the public and the private sector was critical for the implementation of energy projects. She cautioned against “small projects,” and called on member States to prioritize regional and continental projects such as those detailed in PIDA.

She said implementation would go hand in hand with building the capacity of institutions and experts, who can prepare project documents, as well as operate and maintain these projects.

The All-Africa Energy Week (AAEW) and the Pan African Investment Forum is organized under the auspices of AU Conference of Energy Ministers of Africa by the African Union (AU), African Development Bank (AfDB), and the United Nations Economic Commission for Africa (ECA). The forum is a framework to evaluate the progress made in infrastructure development and regional energy services, consensus building on emerging issues, and high level coordination of actions and stakeholders in the energy sector.

It brought together experts, investors and policy makers around the theme: Renewable Energy for Sustainable Development:

from Potential to Infrastructure and Services and will conclude with a ministerial forum on 16 November,

Proposals being mooted this week include instituting levies and infrastructure bonds to finance renewable energy projects.

Note for the media:

The meeting will serve as the AU Commission’s opportunity to report on the implementation of the 2010 Maputo Declaration of Energy Ministers, in particular on various renewable energy sources.

Programme highlights for coverage by media are as follows:

15 November 2012 at 15:00- Ministerial Roundtable; a half day event that will address the issue of major challenges for private sector participation / investment in Africa, in particular energy sector development.

The focus on this Round Table shall be implementation and policy dialogue between policy makers (African ministers) and the top-level public and private sector representatives including the European Investment Bank, the African Development Bank, etc.

16 November 2012 at 09:00- Opening of the Ministerial Session and press conference

Exhibition: Alongside the meetings, industries, technology developers, research and development practitioners, and development actors will be showcasing their companies and organizations, display equipment, materials, services, innovative findings, new knowledge and other practices relevant to addressing energy poverty. Together with the outcomes of the deliberations of the meetings, the exhibition will contribute to enlighten developers and policy-makers on the various opportunities for shifting energy investments.

Issued by:

ECA Information and Communication Service P.O. Box 3001

Addis Ababa Ethiopia

Tel: 251 11 5445098 Fax: +251-11-551 03 65 E-mail: [email protected]

Web: www.uneca.org

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3/19/2014 Article - African Union calls for domestic financing to implement infrastructure projects

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