28th summit of the NEPAD heads of state and government orientation committee (HSGOC): Presentation by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA

Abstract

Presentation by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA at the 28 th Summit of the NEPAD Heads of State and Government Orientation Committee (HSGOC). Mr. Lopes, on his remarks highlighted that, development aid has had a momentous impact on Africa's growth and will continue to be a source of vital resources for Africa's economies. Up to 90 percent of Africa’s development programme budget is funded by our development partners. This is however not a foundation of sustainable growth and development and as President Hifikepunye Pohamba said last year at this Forum, this situation is not something Africa can be proud of. An Africa Infrastructure Development Fund to supplement investment in national and regional infrastructure projects, particularly the implementation of the Programme for Infrastructure Development in Africa (PIDA). the development of an African Bonds Market. African bond issues are flourishing in the international bonds market, though relatively new and limited to a few countries.