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Did you know that Asian economies with success in controlling the coronavirus and exposed to international travel are most likely to establish travel bubbles? Keeping shelves stocked this holiday season while minimizing financial losses is critical. How can employers balance economics and empathy to provide health programs that are meaningful and cost-effective?
This year, with the COVID19 pandemic and social unrest, has reminded us that the challenges within the insurance industry might change on a year-to-year basis, but will never end. As regions around the world are going back into lockdown, people are still looking forward to when they can travel again.
A massive restructuring of the global economy is underway, and businesses must act now so that they can emerge stronger. Perspective Investment in African Infrastructure Key challenges and opportunities for mobilizing institutional investors for the financing of public infrastructure in Sub-Saharan Africa SSA. Infrastructure development is a key driver for progress across the African continent and a critical enabler for productivity and sustainable economic growth.
It contributes significantly to human development, poverty reduction, and the attainment of the Millennium Development Goals MDGs. Investment in infrastructure accounts for over half of the recent improvement in economic growth in Africa and has the potential to achieve even more.
Skip to main content. You are here Home. Developing Infrastructure for Growth For Africa, the need for adequate infrastructure—secure energy, efficient transport, reliable communication systems, resilient sanitation, and affordable housing—is particularly apparent.
In order to boost intra-African trade, we need to improve infrastructure. The good thing about PIDA is that it was designed from the bottom up. The priorities are consensual. Given our global context, some of the minimal conditions for structural economic transformation require a less top-down approach in our planning processes. The 4,kilometre highway from Algiers in Algeria to Lagos in Nigeria, for example, would not have been possible without the political and technical support of each of the affected countries.
Ten years ago a private sector operator who wanted to discuss a regional project with two governments would be lacking a rational framework. PIDA is that rational framework. Jointly coordinated by the African Union Commission, NEPAD, the regional economic communities and AfDB, PIDA provides the strategic framework for priority projects to transform Africa through the construction of modern infrastructure into an interconnected and integrated continent that is competitive domestically and in the global economy.
The objective of this summit was to create a dialogue between policy makers, heads of government and private sector operators. Financing will develop from public-private partnerships. With such quantum resource requirements in the long term, there exists a huge financing gap which needs to be addressed for the successful realization of PIDA projects. The summit was about producing results in terms of new approaches to project preparation that will lead to an increased level of funding being directed to PIDA projects within a shorter timeframe.
Working closely with the private sector, the summit produced tangible outputs that will, over time, contribute to regional transformation. The summit marked the beginning of a strong collaboration between public and private capital, based on effective project risk mitigation and project structuring to match different investor groups with a range of investment securities. Skip to main content. Get the free mobile apps Get the latest news from us on our apps. Welcome to the United Nations.
Toggle navigation Language:. Africa Renewal. Why infrastructure development in Africa matters Get monthly e-newsletter. These impacts are already being witnessed across Africa. For example, hydropower production from the Kariba Dam on the Zambezi—which supplies most of the electricity consumed in Zimbabwe and Zambia—almost ceased in early when the volume of water in the reservoir dropped to about 12 percent of capacity.
A similar study on transport shows that climate change is likely to lead to a shortening in the rehabilitation life cycle of roads, which may entail steep increases in maintenance costs. PIDA consists of over projects , including 54 energy projects hydropower plants and interconnectors and transport projects. These sectors are sensitive to the adverse impacts of climate change, such as droughts, heat waves, and more frequent and intense floods.
The energy projects include 10 hydropower plants of over 22 gigawatts capacity, notably the Inga-3 and the Grand Ethiopian Renaissance Dam. By contrast, the private sector accounted for just 2. Most of the investments were in transport There is thus an urgent need to ensure that climate resilience is integrated into the planning and implementation of infrastructure investments on the continent. Furthermore, major investments will have to come from the private sector, so there is growing demand for institutions to declare climate risk exposure of their investments.
This presents a great opportunity for Africa. As an infrastructure development latecomer, Africa can take advantage of advances in innovation, the falling costs of low-carbon technologies, and the need to diversify and strengthen the macroeconomic basis of economies.