NEPAD-IPPF Bankrolled 105 Regional Infrastructure Projects Across Africa – Committee

(AFRICAN EXAMINER) – NEPAD-Infrastructure Project Preparation Facility Special Fund (NEPAD-IPPF) has funded 105 regional infrastructure projects across Africa with over $114 million.
This was disclosed at the recently concluded 34th Oversight Committee meeting of the NEPAD-IPPF. The Committee also noted that the NEPAD-IPPF is equally building a robust pipeline of bankable regional projects with $35.1 billion investment potential in the energy, transport, water and Information, Communication and Technology (ICT) sectors.
Participants also recognized the ambitious goals in the new plan and the need to resource the Fund in order to support the pipeline of projects.
The virtual meeting was convened by the NEPAD-IPPF Secretariat, and chaired by KfW Development Bank of Germany, on the fringes of the 7th Programme for Infrastructure Development in Africa (PIDA) Week earlier this month with the theme of the event was “Delivering Green and Climate-Resilient Infrastructure in Africa”.
Topics discussed at the meeting include the institution’s draft Strategic Business Plan (2022-2026), annual report and the 2022 work programme.
The meeting was attended by 47 participants, including representatives from KfW of Germany, the Spanish Ministry of Economic Affairs & Digital Transition, Global Affairs Canada, the UK Foreign, Commonwealth & Development Office, the African Union Commission, AUDA-NEPAD, as well as representatives from regional economic communities, specialized agencies, river basin organizations, power pools and regional corridor authorities.
The Committee stressed that mainstreaming climate change and smart infrastructure will become a central focus in the years ahead, in addition to achieving the UN’s Sustainable Development Goals (SDGs). The Committee further observed that more investment needed to plug infrastructure gap in the continent.
A representative of the Spanish Ministry of Economic Affairs and Digital Transition, Tomás Fernández reiterated the importance of the role of NEPAD-IPPF in preparing infrastructure projects.
“We all have to collaborate together and contribute to the work the Fund is developing and to boost its activities. Infrastructure development is a key driver for progress and NEPAD-IPPF can continue to provide a fundamental role to reduce the infrastructure gap.
“Nevertheless, in order to allow the Fund to develop its pipeline of operations and continue working for Africa’s progress, mobilizing additional resources is needed”, he said.
Similarly, African Development Bank Acting Director of the Department for Infrastructure and Urban Development (PICU) and NEPAD-IPPF Fund Manager, Mike Salawou underscored the high demand for infrastructure project preparation.
Saawou who spoke on behalf of the Vice-President, Private Sector, Infrastructure and Industrialization Department of the Bank, noted that the African Continental Free Trade Area is in its second year of implementation and will boost intra-African trade, which according to him, will require infrastructure.
While applauding the role of NEPAD-IPPF, a representative of the United Kingdom (UK )Foreign, Commonwealth and Development Office, Clare Barrington, said: “NEPAD-IPPF is really unique in its regional focus”.
Meanwhile, a recent independent evaluation of the Fund, after its first 15-year cycle, reaffirmed its relevance as the unique facility dedicated to supporting the NEPAD infrastructure program by preparing PIDA priority projects for regional and continental economic integration.
Souhila Amazouz who represented the African Union Commission at the meeting called on participants to recognize the importance of steadily advancing the infrastructure agenda, adding that “it is really the right time to move the infrastructure development agenda in Africa”.
A new strategic business plan for the next five years, a dynamic resource mobilization outreach, the implementation of a digital platform to enhance its portfolio management, and the introduction of new project screening and prioritization tools, will equip NEPAD-IPPF with the instruments essential for successful delivery for years to come.