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Harper Government Supports Regional Economic Development in Africa

Apr 30 2013 12:00AM

Marketwire

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OTTAWA, ONTARIO -- (Marketwired) -- 04/30/13 -- Encouraging African economic development and integration through regional infrastructure projects is a priority for the Harper Government's effective international aid agenda. The Honourable Julian Fantino, Minister of International Cooperation, today announced Canada's contribution to the second phase of the New Partnership for Africa's Development Infrastructure Project Preparation Facility hosted by the African Development Bank. Minister Fantino made the announcement during a meeting with the ambassadors and high commissioners of African countries to underline Canada's commitments to the region.

"Our government is pleased to support infrastructure projects across Africa to bolster economic development on the continent," said Minister Fantino. "This contribution will provide technical and financial assistance to Regional Economic Communities and specialized regional institutions for infrastructure projects capable of attracting public and private finance."

"The New Partnership for Africa's Development Infrastructure Project Preparation Facility, which Canada has consistently supported from its inception, is seen by African heads of state and governments as a crucial facility to help prepare regional infrastructure projects for Africa," said Donald Kaberuka, President of the African Development Bank. "Canada has always been a champion of African development. The African Development Bank sees Canada as one of its most important and most generous partners, and we deeply appreciate every Canadian contribution to bringing about economic transformation in Africa."

The chosen projects will receive funding to prepare development finance tools and to help with feasibility and engineering studies, as well as environmental impact assessments.

Canada's contribution will be disbursed over four years to help sustain progress toward meeting Africa's infrastructure financing needs. Expected outcomes include increased trade between and within Regional Economic Communities, reduced freight costs, increased road access, increased power generation and access to electricity, as well as information and communication technologies. Since 2004 the New Partnership for Africa's Development Infrastructure Project Preparation Facility has helped leverage US$5.7 billion in funding for regional infrastructure projects.

Canada is a leader in advancing economic growth in Africa, including the need to provide financial and technical assistance. Economic Action Plan 2013 affirms Canada's commitment to international development investments such as improving sustainable economic growth. The new Department of Foreign Affairs, Trade and Development will maintain the mandate of poverty alleviation, and help Canada achieve greater efficiency, accountability, and focus to continue to improve the lives of people in need around the world.

For more information on Canada's support to Africa, please visit the CIDA website.

BACKGROUNDER

HARPER GOVERNMENT SUPPORTS REGIONAL ECONOMIC DEVELOPMENT IN AFRICA

Today's announcement of $15 million over four years provides support to the second phase of the New Partnership for Africa's Development Infrastructure Project Preparation Facility hosted by the African Development Bank.

The objective of phase II of the New Partnership for Africa's Development Infrastructure Project Preparation Facility is to provide technical and financial assistance to Regional Economic Communities for the preparation of bankable infrastructure projects. The support provided to RECs through this facility will enable them to increase their capacity to engage the private sector and leverage financing for infrastructure projects within private-public partnerships.

Phase I of the New Partnership for Africa's Development Infrastructure Project Preparation Facility 2004-2010), with a total budget of US$41 million, supported a portfolio of 43 infrastructure preparation projects. Of these, 23 completed project preparations, ten projects secured full financing, totalling US$1.3 billion for implementation: 6 in the energy sector (Ghana-Togo-Benin Interconnector, Kenya-Uganda Oil Pipeline, Ithezi-Thezi Hydropower Generation Project, Zambia-Tanzania-Kenya Interconnector, Gambia River Basin Development Organization (OMVG) Electricity Project, and Kariba North Bank Hydropower Generation), two in the transport sector (Rwanda-Burundi Road, and Lake Victoria Maritime Communications), and two in the information and telecommunications sector (East African Submarine Cable System and East Africa ICT Backbone).

Canada was the leading bilateral donor to support the first phase of the New Partnership for Africa's Development Infrastructure Project Preparation Facility with a contribution of $10 million over six years.

The chosen projects for the phase II portion will go through high-quality preparation processes, which include support for feasibility and engineering studies, legal analyses, and environmental impact assessments.



Contacts:
Daniel Bezalel Richardsen
Press Secretary to the Minister of International Cooperation
819-953-6238
danielbezalel.richardsen@acdi-cida.gc.ca

Media Relations Office
Canadian International Development Agency (CIDA)
819-953-6534
media@acdi-cida.gc.ca
Follow us on Twitter: @CIDA_CA





Source: Marketwire


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