Multimillion SADC infrastructure bond approved

19 Aug 2014 14:00




The SADC Council of Ministers meeting held last week has approved

the programming of N$ 846m (Euro 600m) funding for Regional

Infrastructure Investment projects.

 In the same meeting held in Victoria Falls, Zimbabwe, The

council approved the SADC list of potential Regional Infrastructure

Investment projects to be considered for financing under the 11th

EDF 2015/16 annual Action plan.

The SADC Council of Ministers was attended by ministers from 15

SADC member States and was chaired by the Minister of foreign of

Zimbabwe Simbarashe Mumbngegwi.

 “On the trade front, the council endorsed the decision taken

by the Committee of Ministers of Trade to address some of the

implementation challenges of the Free Trade Area; and directed the

secretariat to facilitate implementation of measures for effective

implementation of SADC Industrial Development Policy framework

and the Industrial Upgrading and modernisation programme,

in order to boost the region’s productive competitiveness and

industrial capacity, and promote equity, fairness and balance in intra-
regional trade,” the official communiqué said.

The council further urged member states to steadily converge on the

macroeconomic convergence targets by implementing sustainable

economic policies and diversifying their economies through value

addition and beneficiation of natural resources.

 “ Member States to implement planned power generation projects

on schedule to effectively address power shortfalls in the region

in the short term and provide the necessary policy support to

implement the Demand Side management programme, including

banning of incandescent light bulbs,” the statement reads.

They were also reminded that all Member States should expedite

the implementation of the SADC Roadmap on digital Broadcasting

migration; and incorporate the SADC Resolution on Digital Terrestrial

Television in their planning so as to ensure that the region meets its

international obligations and migrate before the deadline of 17 June

2015.

Consequently, The 34th Ordinary meeting of the Summit of the

heads of State and Government of the Southern region under the

theme: “SADC Strategy for Economic Transformation: Leveraging

the Region’s Diverse Resources for Sustainable Economic and Social

Development through Value Addition and Beneficiation” have

directed that industrialisation should take centre stage in SADC’s

regional integration agenda.