COMESA Secretary General Mr Sindiso Ngwenya has reiterated the need for infrastructure development in the 19 member bloc. He pointed out that COMESA is working to realize its long held ambition of marshalling financial resources to address the critical challenge of infrastructure development which is facing the region.
He revealed that the establishment of the COMESA Infrastructure Fund has been in the making for a long time and he commended the commitment of COMESA Member States to see the Fund fully functional.
The Secretary General was speaking when he met the Transaction Advisors for the COMESA Infrastructure Fund in Lusaka.
“….Special welcome to the Transaction Advisors. Welcome aboard, fasten your seat belts, I hope this journey you are embarking on with us will be smooth and we arrive at our intended destination, financial close, as quickly as possible with US$1 billion in the bag”! Mr Ngwenya added.
He urged the Advisors to work with other existing COMESA-affiliated institutions that are already on the ground engaged in infrastructure development. These include the PTA Bank, the Tripartite (COMESA-EAC-SADC) Project Preparation and Implementation Unit (PPIU) and the Tripartite Trust Account.