The Africa50 fund aims at mobilising private financing to accelerate the speed of infrastructure delivery in Africa,thereby creating a new platform for Africa’s growth. Africa50 focuses on commercially viable projects gaining returns.More importantly, the long-term strategic aim is to directly invest USD 10 billion in projects,and facilitate total project investment of USD 100 billion by crowding in private sector players.
As one of the key organ in the decision making process, the CID ensures coherence and harmony across sectors and identifies priority projects within PIDA. In this position, the CID develops and submits its recommendations to the African Head of States and Government at the AU Summit
VPIC serves as “one-stop shop” for all PIDA related inquiries.It facilitates the M&E process of PIDA-PAP projects and promotes PIDA to the wider public as an essential framework for the transformation of Africa (www.au-pida.org).
Led by the World Economic Forum (WEF), this initiative aims at effectively engaging the private sector in PIDA projects to accelerate their implementation. To this effect,a PIDA Business Working Group,comprising about 40 private sector institutions,was established. As a pilot project to foster and showcase their engagement,the Central Corridor was selected.
During the 18th ordinary session of the AU Summit, African Heads of State and Government adopted the Programme for Infrastructure Development in Africa (PIDA) as strategic framework for regional infrastructure.The PIDA Priority Action Plan (PIDA PAP) comprises 51 cross-border programmes covering the four sectors transport, energy, and ICT as well as trans-boundary water resources management. Regional infrastructure is pivotal in increasing intra-African trade and improving the continent’s competitiveness in the world market. Hence,PIDA substantially contributes to the socio- economic development of an integrated Africa.
As a strategic framework,IAIDA assigns roles and responsibilities to ensure a coordinated,speedy and efficient implementation of PIDA.
