THE AFRICAN DEVELOPMENT BANK SAYS INDICATED THAT AFRICA NEEDS TO INTRODUCE INNOVATIVE SOURCES OF FUNDING TO MEET ITS WATER INFRASTRUCTURE NEEDS, WHICH RANGE FROM 45 - 60 BILLION US DOLLARS PER ANNUM.
THE BANK NOTED THAT AN ESTIMATED 45 - 60 BILLION US DOLLARS IS REQUIRED ANNUALLY TO MEET AFRICA’S WATER INFRASTRUCTURE REQUIREMENTS, OF WHICH DRINKING WATER SUPPLY AND SANITATION REPRESENTS SOME 11 BILLION US DOLLARS.
THE BANK, WHICH ARGUES FINANCING FROM OFFICIAL DEVELOPMENT ASSISTANCE AND NATIONAL BUDGETS, IS NOT SUFFICIENT TO CLOSE THE FINANCING GAP IN THE WATER AND SANITATION SECTOR OF THE CONTINENT, AND HAS SINCE ADVISED MORE INNOVATIVE SOURCES OF FUNDING.
THE BANK SAID IN A STATEMENT THAT IN ORDER TO PROMOTE MORE INNOVATIVE APPROACHES IN TAPPING NON-TRADITIONAL SOURCES OF FUNDING, THE AFDB IS LEADING A THEMATIC SESSION ON “FINANCING INVESTMENTS IN WATER FOR GROWTH AND DEVELOPMENT”, DURING THE 3RD AFRICA WATER NEXT WEEK IN ADDIS ABABA.
THE STATEMENT FURTHER SAYS THE SESSION WILL PROVIDE THE EXPECTED 500 PARTICIPANTS INCLUDING MINISTERS, BASIN ORGANIZATIONS REPRESENTATIVES AND OTHER SECTOR ACTORS AN OPPORTUNITY TO SHOWCASE INNOVATIVE AND SUCCESSFUL APPROACHES IN MOBILIZING FINANCING AND TO FACILITATE PEER-LEARNING.
DISCUSSIONS WILL FOCUS ON COUNTRY CASE-STUDIES AND EXPERIENCES FROM AN ARRAY OF STAKEHOLDERS ON NON-TRADITIONAL SOURCES OF FINANCING.
TWO MAJOR REPORTS ARE SET TO BE LAUNCHED BY AFDB DURING THE 3RD AFRICA WATER WEEK IN ADDIS ABABA.
THE AFDB HAS SUPPORTED THE PROCESS IN 4 COUNTRIES – CHAD, GAMBIA, ZAMBIA AND NIGERIA.
THE 3RD AFRICA WATER WEEK WILL BE HELD UNDER THE THEME “IMPLEMENTING THE AFRICA WATER VISION AND THE MDG TARGET: CHALLENGES AND OPPORTUNITIES IN WATER AND SANITATION”.
THE 3RD AFRICA WATER WEEK WILL BE HELD UNDER THE THEME “IMPLEMENTING THE AFRICA WATER VISION AND THE MDG TARGET: CHALLENGES AND OPPORTUNITIES IN WATER AND SANITATION”.
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