Addis Ababa, Ethiopia:Strategic Infrastructure Financing to Take Center Stage as Addis Ababa Prepares for PIDA Week 2024 in November

INFORMATION & COMMUNICATION DIRECTORATE

Press Release No: 197/2024                                                           Date: 1^st November 2024
Venue: Addis Ababa, Ethiopia

Strategic Infrastructure Financing to Take Center Stage as Addis Ababa Prepares for PIDA Week 2024 in November

Addis Ababa, Ethiopia- October 29, 2024: The 2024 edition of the Programme for Infrastructure Development in Africa (PIDA) Week, will take place from November 25 to November 29, 2024, at the African Union Headquarters in Addis Ababa, Ethiopia. The weeklong strategic event is dedicated to advancing Africa’s infrastructure development agenda, aligning with the continent’s urgent needs for sustainable growth.

PIDA, a key initiative of the African Union aims at advancing infrastructure and regional integration in line with the aspirations of  Agenda 2063, has been instrumental in driving regional infrastructure projects. The effects of these projects are already being felt across the continent, as detailed in the PIDA 10-Year Implementation Report.

PIDA Week 2024, a collaborative effort between the the African Union Commission (AUC), African Union Development Agency-NEPAD(AUDA-NEPAD), and the Federal Democratic Republic of Ethiopia, is organized under the esteemed patronage of H.E. Prime Minister Abiy Ahmed. Set against the backdrop of a bustling week in November, which also features Ethiopia’s Green Mobility Expo 2024, promises to explore exciting opportunities to attract investments, showcasing Africa’s infrastructure advancements in infrastructure to date.

This year’s theme, “Fostering Resilient and Inclusive Infrastructure for Africa’s Sustainable Growth: Leveraging Transformative Financing and Regional Integration,” highlights advancements in critical sectors of energy, transport, transboundary water, and information and communication technology (ICT) as well as delve into critical dialogues to discuss challenges encountered over the years of implementing PIDA.

The event also encompasses a variety of sub-themes aimed at strengthening multilateral cooperation, advocating for increased financing for infrastructure projects, advancing digital infrastructure, promoting sustainable and inclusive infrastructure, supporting green economy pathways and facilitating knowledge sharing among stakeholders while increasing the visibility of PIDA’s achievements.

Through PIDA, an additional 30 million Africans now have access to electricity. ICT broadband penetration has risen to over 25%, far surpassing the initial target of 10%. In addition, thousands of kilometres of both existing and new road and rail links have been modernized and built, resulting in the creation of more than 160,000 direct and indirect jobs.

The engagements at PIDA Week are expected to further accelerate implementation and underpin financing opportunities for the 69 regional infrastructure projects identified in the second phase of the programme requiring USD 16.1 billion every year.

As this prominent gathering expects to attract more than 1000 participants from across the continent and beyond, significant outcomes are also anticipated including greater alignment of infrastructure development with continental priorities, strengthened partnerships, innovative financing models, and improved capacity for stakeholders involved in infrastructure projects. Presentations of various infrastructure projects, scheduled to take place in deal rooms, are projected to secure financing and ink financial agreements.

PIDA Week will feature remarks from key officials, including Ethiopia’s Prime Minister H.E. Abiy Ahmed, Chairperson of the African Union Commission H.E. Moussa Faki Mahamat, Commissioner of African Union Infrastructure and Energy H.E Dr Amani Abou-Zeid, CEO of AUDA-NEPAD H.E. Nardos Bekele Thomas, as well as ministers responsible for Transport, ICT, Energy, and Water from across the continent. Leaders from Regional Economic Communities, International Financing Institutions, Regional Banks, and various partners will also be in attendance.

For more information about PIDA Week 2024, please visit https://au-pida.org/events/

For media inquiries, please contact:

Ms. Zipporah Maubane | Head of Communications and Advocacy  | African Union Development Agency-NEPAD | Email: zipporahm@nepad.org

Ms. Bezayit Eyoel | Department of Infrastructure and Energy | African Union Commission | E-mail: bezayite@africa-union.org | Addis Ababa, Ethiopia

Mr. Gamal Eldin Ahmed A. Karrar | Senior Communication Officer | Information and Communication Directorate | African Union Commission | E-mail: GamalK@africa-union.org | Addis Ababa, Ethiopia

Information and Communication Directorate | African Union Commission I E-mail: DIC@africa-union.org I Website: http://www.au.int I Addis Ababa, Ethiopia I Follow Us: Facebook | Twitter | Instagram| YouTube |