Sadc moots development bank

Sadc moots development bank
Published: 01 October 2013
The Southern African Development Community plans to form a development bank with seed capital of $1.2 billion to provide financial support for regional infrastructure projects, it has been learnt.

Speaking at the Zimbabwe Mining and Infrastructure Indaba 2013 in Harare last week, Infrastructure Development Bank of Zimbabwe projects co-ordinator Nick Nyamambi said Sadc had crafted the Regional Infrastructure Development Master Plan, an infrastructure development blueprint up to year 2027.

Nyamambi said the RIDMP was divided into three phases with the first phase from 2013 to 2027 being the short-term action plan to consider projects in five key sectors: transport, energy, water, ICT and tourism.

Nyamambi said the fund would have an infrastructure window to provide financial support for the implementation of regional infrastructure projects.

He said the short-term action plan was meant to cater for those projects ready for implementation and preparation for projects to be implemented in phases two and three.
- newsday
Tags: Sadc,


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