Nairobi, September 14, 2011
The Tripartite – COMESA, EAC, SADC – and IGAD formally announce the High Level Tripartite+IGAD Investment Conference that will take place in Nairobi, Kenya on September 28-29, 2011.
Decisions to host this conference were taken during a pre-conference event held by the Tripartite and IGAD in Nairobi in 2010; the decision was to package priority projects in transport (road, railways and ports) and energy (transmission and pipelines) with the view of advancing public and private sector investments that will enhance economic growth in the region and provide opportunities for the enhancing of regional development in Eastern and Southern Africa.
H. E. The President of the Republic of Kenya, Hon. Mwai Kibaki will officially open the conference and his government, led by the Ministry of Trade, will host King Mswati III of Swaziland in his capacity as the Chairperson of the Common Market for East and Southern Africa (COMESA); H. E. Pierre Nkuruziza, President of the Republic of Burundi and the current Chair of the East African Community (EAC); H.E. Jose Eduardo dos Santos, President of Angola and current Chair of the South African Development Community (SADC); and H.E. Ato Meles Zenawi, Prime Minister of The Federal Republic of Ethiopia and current Chair of The Intergovernmental Authority on Development (IGAD).
Relevant government ministries from the countries served by the Lamu, Djibouti, Northern, Central and Berbera transport corridors will be in attendance, with delegations expected from the ministries of Transport, Roads, Information, Energy, Immigration, Foreign Affairs, Tourism and the East African Cooperation.
The projects situated along the Lamu, Djibouti, Northern, Central and Berbera transport corridors will have a direct and significant effect on transport efficiency, reducing both the cost and the time for transport of goods and people both within the host countries and across the region. It is the position of the Tripartite and IGAD that all such projects should provide network connectivity.
The objective of the conference is to advance the highlighted projects toward feasibility and bankability, allowing investors from the private sector, governments and donor community to finance such projects through institutional arrangements such as direct private sector investment, Public-Private Partnerships (PPPs) and Public Expenditure.
Public-Private Partnerships have the potential to ensure that investments, particularly in infrastructure, are both attainable and sustainable in the long term. The private sector generally takes up financially lucrative projects and PPPs give them a unique opportunity to be involved in projects where the risk is shared with governments through loans or equity shareholding.
Loans and grants from development partners and specialized institutions also play a key role in providing initial capital investment for infrastructure projects and when coupled with government and private sector involvement can enable the region progress economically.
Various such projects are under way and will be highlighted extensively during the conference at the end of September.
Visit the Tripartite and IGADF investment conference official website at www.tiic.org for more information.
To arrange interviews and further information please contact :
Ms. Ndu Okoh
media@tiic2011.org
Phone: +254 722 788 524
Source: TradeMark Africa(TMA)
TradeMark Africa (TMA) is an aid-for-trade organisation that was established with the aim of growing prosperity in East Africa through increased trade. TradeMark Africa (TMA) operates on a not-for-profit basis and is funded by the development agencies of the following countries: Belgium, Canada, Denmark, Finland, the Netherlands, UK, and USA. TradeMark Africa (TMA) works closely with East African Community (EAC) institutions, national governments, the private sector and civil society organisations.
