Africa-Press – Angola. The President of the Republic and Acting President of the African Union, João Lourenço, called Tuesday in Luanda for the coordinated mobilization of resources and political will for the sustainable financing of infrastructure in Africa, with a view to consolidating regional and continental integration.
Speaking at the opening of the III Summit on Infrastructure Financing in Africa, the Head of State emphasized that the continent’s development challenges require consistent investment and cooperation between the public and private sectors to accelerate Africa’s economic and social transformation.
“Our challenges will still consume many resources, but we are convinced that the investments made so far and currently underway are a fundamental part of the structural transformation taking place in Angola, which we want to share within the framework of the African Continental Free Trade Area and the construction of an integrated and prosperous Africa,” he said.
President João Lourenço emphasized the need to find innovative financing solutions for the road, rail, port, airport, energy, and telecommunications sectors, emphasizing that the objective is not only to serve each country individually, but above all to promote shared infrastructure, serving regional and continental integration.
On the occasion, the Angolan statesman also highlighted the strategic importance of the Lobito Corridor, considering it a vital infrastructure for connecting the interior and coastal regions of Africa, with a direct impact on international trade.
“Since we are in Angola and talking about infrastructure for regional and continental integration, we cannot fail to mention the importance of the Lobito Corridor, which is crucial for Angola, the SADC region, and the global economy, as it shortens maritime transportation times between Asia, Africa, Europe, and the Americas and, consequently, lowers the costs of exported goods and products,” he emphasized.
The Head of State expressed his hope for positive interactions between the public and private sectors, as well as African and international financial institutions, highlighting their role in mobilizing capital and enabling structural projects.
The continent still faces an infrastructure financing deficit, estimated by the African Development Bank at between US$130 and US$170 billion.
The Luanda Summit brings together Heads of State and Government, regional leaders, and representatives of multilateral banks to define strategies for cooperation and joint financing of infrastructure projects, considered fundamental to economic growth and continental integration within the framework of the African Union’s Agenda 2063.
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