Sunday, May 9, 2010

2010 ICA Annual Meetings - Integrating African Economies through Regional Infrastructure

The 2010 ICA Annual Meetings held in Tunis, May 6 - 7, focused on integrating economies through regional infrastructure. The meeting was co-chaired by the Canadian International Development Agency (CIDA) Executive Vice-President, David Moloney, and African Development Bank (AfDB) Vice President, Bobby J. Pittman. The meeting highlighted various 2009 reports with key highlights including:

-6.9% increase in total commitments to Africa by ICA members
-75% increase in energy commitments and 20% increase in transport
-Regional projects in 2009 reached $3.7 billion in commitments

Meeting participants also stressed the importance of innovative financing to facilitate regional infrastructure development, especially in the power sector. Commenting in advance of the meeting, the African Development Bank’s Vice-President, Bobby J Pittman, said: “The challenge of achieving regional economic integration requires, among others, regional solutions; African institutions, such as the AU Commission, NEPAD Planning and Coordination Agency, working together with the Regional Economic Communities to deliver improvements in trans-boundary infrastructure.” Click here to read more about the event.