African Heads of State on Monday endorsed the launch of the Programme for Infrastructure Development in Africa (PIDA), a multi-billion dollar initiative that will run through 2040.
In a statement at their 18th summit held in the Ethiopian capital, Addis Ababa, the Heads of State approved the implementation of the recommendations in the study on PIDA presented to the summit.
The study was a joint initiative of the African Union, the African Development Bank and the New Partnership for African Development (NEPAD) Planning and Coordination Agency. Endorsement by the AU summit will now be followed by more detailed planning on the actual implementation of PIDA.
PIDA’s main goal is to accelerate the delivery of Africa’s current and future regional and continental infrastructure projects in transport, energy, information and telecommunications technologies, as well as trans-boundary waterways. Its projects are designed to support Africa’s regional and continental integration. PIDA’s longer term goal is to enhance the physical integration of Africa, boost intra-African trade, and raise African competitiveness in the global economy.
PIDA sets out short-term goals to be achieved by 2020, medium-term goals to be achieved by 2030, and the long term ones by 2040. It is based on expert projections that African countries will grow by an average of six percent a year until 2040, driven by a surging population, increasing levels of education and technology absorption. This implies that, over 30 years, the GDP of African countries will multiply six-fold. This continuing growth and prosperity will swell the demand for infrastructure.
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